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Divorcing a software engineer? Look for digital assets

On Behalf of | Apr 26, 2022 | Division Of Assets

If there is one thing that you can rely on when you’re married to someone working in information technology, it’s that they understand digital assets. They may have NFTs, be using apps to buy stocks or have cryptocurrencies in their digital wallets.

Sometimes, people forget about these valuable assets when they divorce, but you should do your best to remember to ask for information about them. Failing to disclose these assets is not legal, but that doesn’t mean that they won’t get forgotten about or that your spouse might not hide them intentionally.

What are common digital assets?

Thanks to technology, there are dozens of kinds of digital assets that you should identify during your divorce. Some of them may include:

  • Nonfungible tokens (NFTs)
  • Online apps holding stocks
  • Cryptocurrencies, like Bitcoin or Etherium
  • Online investments
  • Online-only banking or savings accounts

It’s important to talk to your spouse about any digital assets they may have, but if you think they’re still hiding some, you do have options.

How can you find hidden digital assets?

Finding hidden digital assets is easier if you know where to look. Many people decide to hire attorneys, forensic accountants and private investigators who can track where money is coming from and going to. For example, there may be a recurring withdrawal from your bank account that you never paid much attention to, but it’s possible that the withdrawals link to a stock account online. Your spouse could have thousands of dollars, if not more, in money there that may be divisible upon divorce.

Why do you need to find hidden assets or accounts?

It’s necessary to locate hidden assets and accounts, because as a spouse, you have a right to seek a fair share of any income made or assets purchased during your marriage. In California, community property laws allow you to split marital assets 50/50, so it’s worth looking into the accounts that your spouse may be holding and that you may not be aware of. You could be surprised to find that there are many more assets available to you than you were expecting.