The Importance of Digital Asset Disclosure
One of the trickiest parts of the divorce process is the division of assets, especially if there was no prenuptial agreement signed. In addition to the strong emotions involved in the divorce, there is the process of separating what belongs to whom. Hence, it is important to think about your physical assets and liabilities while not forgetting those that may be considered digital.
Digital assets could be considered items both tangible and intangible. The latter can be easy to unintentionally overlook yet they may be necessary to include in the divorce documentation. Think of items like virtual currency such as Bitcoin, music or movie libraries, goods that are virtual but have a value in the real world, or funds that may be in accounts like PayPal.
Many of these digital assets are easy to forget yet they could result in legal trouble. It is, therefore, crucial to make a meticulous list of all assets both physical and digital as well as debts. If you’re concerned your soon to be former spouse may be intentionally hiding assets, an attorney may be able to help.
This update is provided by the firm and Miami family law lawyers of Rafool, LLC. We have a strong reputation throughout Florida and we have numerous years of experience representing clients involved in complex divorce cases as well as other family law matters. Should you have any domestic or family issue, we are here to assist you by providing educated advice and skilled, professional advocacy. Call 305-567-9400 to speak with one of our family law attorneys Miami.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.