Bitcoins and hiding wealth in divorce – Family Law

Posted May 8th, 2018 in divorce, financial provision, internet, news by sally

‘Divorce ends the marriage but does nothing to end the financial arrangements between the parties. If the parties cannot agree these, and as part of court proceedings to determine who gets what, the parties have to provide full and frank disclosure to the other of their entire financial means. This procedure allows the parties to be open and transparent about the extent of the assets in the marriage. There could be a situation arising whereby a party seeks to hide their wealth but evidence provided with disclosure such as bank statements in paper form provides a paper trail and this makes for the hiding of cash movements very difficult. But what if that party holds Bitcoins or other crypto-currencies?’

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Family Law, 4th May 2018

Source: www.familylaw.co.uk