Viewing entries tagged
equitable distribution

A Messy Process Made a Little Messier...

A Messy Process Made a Little Messier...

By Inna G. Materese | Esquire

In December, we touched upon an emerging challenge for family lawyers and litigants alike: crypto-currency. Unfortunately, this new form of asset acquisition continues to be an ephemeral safe-haven for those determined to shield assets in a divorce action and, in the process, makes an already messy divorce process even messier. 

As reported by Bloomberg, not only is crypto-currency volatile, making it difficult to value, but it can be traded with relative anonymity. Crypto-currency holdings that are traded online can be traced and valued with a bit more ease, while holdings that are moved offline (and to a USB) are much more difficult to assess.  

As regulatory agencies grapple with the best method of tracking, disclosing and reporting crypto-currency, it is safe to say that some couples may encounter even more bitterness and frustration in their divorce matter. 

The New High Tech Trend in Hiding Marital Assets in Divorce

The New High Tech Trend in Hiding Marital Assets in Divorce

By Inna G. Materese | Esquire

It's hard to read or see the news  these days without running into mention of bitcoin, the crypto-currency that has exploded onto the scene and exponentially increased overnight. Even so, most of us are left scratching our heads when it comes to understanding how it all works or what it all means. 

For family law litigants and practitioners, the prospect of a "bitcoin divorce" is even more of a puzzler. Are bitcoin divisible in equitable distribution? If so, are these asset in the nature of currency or personal property or stocks? Are bitcoin transactions traceable and able to be regulated? Perhaps most importantly, can bitcoin and/or other crypto-currency be withdrawn or sold for actual dollars?

There are currently few definitive answers to these questions. However, we are already seeing the impact of the electronic cash system on divorce matters as some appear to be using the currency as a high-tech method of hiding cash

If you or your partner own crypto-currency, consult with an attorney regarding the best way to deal with this new type of asset.