The Law Offices of James A. Cuddy, LLC
Menu Contact
Call To Find Your Way Forward
203-583-8256
Direct, Honest And Fair Family Law Solutions
View Our Practice Areas

Cryptocurrency and divorce settlements

When couples in Connecticut and around the country divorce, asset division is an important element of the process. This is because there is an assumption that both parties should be able to leave a marriage with the resources needed to rebuild their finances and move on with their lives. Doing this requires careful accounting of a couple's finances and debts.

Unfortunately, determining the value of a marital estate, which includes monetary assets, such as bank and investment accounts; real estate; personal property; and, in many cases, debts, has become more challenging in an age of cryptocurrency. Many individuals have elected to invest in cryptocurrency, which can be difficult to value given that it is a relatively new financial instrument that is a part of a volatile market.

The nature of cryptocurrency is such that it may also be possible for a spouse to make investments that can be difficult to trace. If he or she fails to disclose this fact during divorce proceedings, the resulting asset division may not be fair to the other spouse. In addition, there is currently some controversy within the legal community regarding whether the value of marital assets should be calculated when they're distribution rather than at the time of a divorce.

Individuals who are concerned about the valuation of assets at the time of a divorce may benefit from speaking with an experienced family law attorney. A lawyer may recommend the hiring of a forensic accountant who could identify the possibility that a person's spouse is hiding assets via cryptocurrency. In addition, financial professionals could also make recommendations regarding determining the value of cryptocurrency investments.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Take The First Step

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

The Law Offices of James A. Cuddy, LLC

525 Bridgeport Avenue
Suite 201
Shelton, CT 06484

Toll Free: 866-785-4409
Phone: 203-583-8256
Fax: 203-513-8673
Shelton Law Office Map