Brand
toll-free 800-836-8278
toll-free 800-836-8278

 PLEASE NOTE: To protect your safety in response to the threats of COVID-19, we are offering our clients the ability to meet with us via telephone or through video conferencing. Please call our office to discuss your options.

PLEASE NOTE: To protect your safety in response to the threats of COVID-19, we are offering our clients the ability to meet with us via telephone or through video conferencing. Please call our office to discuss your options.

Protecting What Matters Most

What are hidden assets in a divorce?

| Mar 9, 2021 | High Asset Divorce

When you file for divorce in Rhode Island, you and your estranged spouse will have to lay all your assets on the table. This doesn’t just include obvious assets like properties and savings accounts–it includes anything that has value or could generate income. If you don’t make an effort to look for “hidden” assets, you might miss out on a lot.

What are some examples of hidden assets?

You might be surprised to learn that most divorce judges count cryptocurrency like Bitcoin as an asset. It might not be a tangible asset, but it’s still worth a lot of money. Certain retailers and investment companies are starting to work with cryptocurrency, which has skyrocketed in popularity in recent years. During your divorce, you might want to hire someone who can value you or your spouse’s cryptocurrency earnings.

If your estranged spouse is in the military, you might be eligible for some of their benefits even after your divorce. However, your spouse must have served in the military for at least 20 years. You must have also been married to this person for at least 20 years to qualify.

Finally, you probably know that you can divide up investments during your divorce. However, you might not realize that you may be entitled to a portion of your estranged spouse’s restricted stock options. These types of stocks can be difficult to value, so you might want to talk to your attorney about how to handle these assets. Your estranged spouse might not be able to give you a portion of their stocks, but they could give you different assets in exchange.

How can you find your spouse’s hidden assets?

Whether accidentally or deliberately, many people hide assets from their estranged spouse during the divorce process. Your attorney could point out possible assets that you wouldn’t have thought about so you can bring them up during the proceedings.