High-asset divorces come with numerous surprising and unique hurdles that other forms of divorce do not necessarily have to deal with. This can include an increased risk of your spouse attempting to hide assets.
These days, more spouses turn toward digital means when hiding assets. This means it is important to note the red flags you need to keep an eye out for.
The use of cryptocurrency
CNBC discusses the phenomenon of using cryptocurrency in divorce to hide assets. This has actually served as an ongoing issue for many years. However, it was not until recent years that cryptocurrency and other forms of digital currency began to gain traction and public notice. Alongside the general public’s awareness, the awareness of attorneys also grew.
Your spouse might have turned to digital currency to hide assets due to the lack of regulation it had until recently. However, while it may seem like it would be harder to get proof of hidden assets in this case, the red flags are often the same no matter the method of asset hiding.
Behavioral and financial changes
Many individuals will exhibit signs of paranoia and mistrust, especially when it comes to financial matters. Your spouse may begin to refuse to share even simple receipts with you, which is a huge red flag.
Also, spending habits will usually change at the same time. Most individuals will start spending a much smaller amount than usual as they try to store as much money as possible in digital asset avenues.
If you notice any of these signs, consider contacting legal aid and a forensic financial analyst with a specialty in digital assets.