Crypto and Other Digital Assets Can be Tricky During Divorce

In an article published on 10/13 by Law.com, Rebecca Palmer advises that, in the wake of a divorce, you should review the privacy settings for cryptocurrency accounts as well as any other shared digital assets that may have accrued throughout the marriage. With October being Cybersecurity Awareness Month, an honest conversation with your ex-spouse about the proper security of these various online accounts is crucial.

“Digital assets and technology are now a common point of contention in divorces compared to even five years ago,” Palmer writes. “The first thing we tell our clients is to make an inventory list of shared online accounts, devices, and passwords. … Any shared site or account should be updated with a new email.”

In spite of popular belief, it is possible to request an ex-spouse’s cryptocurrency transaction history from a platform or exchange—and this information might also include sensitive bank or other financial institution information. You should consult a forensic accountant to assess their value since, as with any other asset, they are subject to a future divorce settlement.

“Don’t assume you can change the passwords on your accounts and delete your spouse from your life,” writes Palmer. “October is just one month to remind us all to play an active role in safeguarding our digital well-being—because if we don’t, those mistakes can haunt us for years to come.”

Read the story in full; click here.