If you or your spouse own cryptocurrency and are going through the divorce process, it can add a layer of complexity to what can already be a difficult time.
Cryptocurrency ownership in the United Kingdom is increasing and it is estimated that 11% of the population own a form of cryptocurrency.
In divorce proceedings, each party is required to enter into full and frank disclosure to provide details of all of their financial assets and liabilities. Cryptocurrency must be declared in this disclosure – the type of cryptocurrency, the value of it and where it is stored must all be disclosed.
A difficulty can arise if one party is either unaware of the cryptocurrency or has limited knowledge of it and the other does not disclose this information. In those circumstances it is critical that you have the benefit of specialist legal advice, that is experienced in cases that involve cryptocurrency and how best to trace it, so that it is fully taken in to consideration when negotiating and then resolving the financial claims of the marriage. Our family team has experience of such cases and would be delighted to meet with you.
If you want to know more or want to speak to a member of our team, please get in touch below or call us on 01702 338338.
