There are a few telltale signs your spouse is hiding money in the divorce case. The first sign is if your spouse historically “handled the finances”. If that is the case, he/she may have bank or investment accounts you don’t know about. Another sign is if your spouse gives vague answers to your questions about investments, bills, or big purchases. Two common areas people hide money is in cryptocurrencies and through a business.
How can I tell if my spouse is hiding money in cryptocurrencies?
There are a couple noticeable signs that your spouse is hiding money in cryptocurrencies in the divorce. The most obvious is if you have ever heard your spouse talk about cryptocurrency. Also think about whether your spouse is fairly tech savvy or has any friends or investment advisors who seem fairly capable of exposing your spouse to cryptocurrencies.
Cryptocurrency can be a major point of contention, especially in high net worth divorce cases. Cryptocurrency profits and transfers from one coin to another are required to be reported for tax purposes like other income sources. However, being required to report and actually reporting are two different things and if you suspect that your spouse is hiding money, cryptocurrencies are a good asset class to hide because they are not going show up in the typical bank, investment, and retirement accounts.
Many people still don’t know much about them and the people who claim to be knowledgeable may only know the mainstream platforms for buying and selling cryptos. But if someone is trying to hide crypto purchases, there are several non-mainstream platforms available.
Koth Gregory & Nieminski can discover if your spouse is hiding money in cryptocurrencies
Koth Gregory & Nieminski (KGN) is aware of these less notable platforms and knows where to look for hidden cryptos. KGN has IT personnel with significant experience analyzing phones, computers, and other devices to track browsing history and pinpoint these crypto platforms. KGN also has experience working with different cryptocurrency platforms to recover cryptocurrencies so once we identify the platforms where your spouse is keeping cryptocurrency, we can discover the amount your spouse is hiding so the court can account for it with the rest of the marital property.
In today’s financial climate, regardless of whether you suspect your spouse of hiding cryptocurrency, it is a red flag if no one in the law firm is capable of intelligently explaining cryptos to you. Anyone who knows anything about cryptos is familiar with the Coinbase platform and blockchain technology. However, if the person you are speaking with cannot identify at least three other crypto purchasing platforms and crypto wallets, and track down purchases and transfers on the blockchain, then they are not qualified to represent you with respect to dividing marital property in your divorce case without consulting an expert.
Is my spouse trying to hide money through the business?
If your spouse is self-employed or has a side business, there is additional opportunity to move money or assets around so it is quite possible that your spouse is hiding money through the business. Discovering money and other assets hidden in a business are very difficult for the average person and many lawyers.
You need a lawyer who knows the maneuvers unethical business owners may try to make. You also need a lawyer with significant experience doing collection work (a.k.a. creditor’s rights) with the collection software and relationships to track down the money.
If your husband or wife is hiding money, you need a divorce lawyer who knows the crypto and self-employment landscape.
KGN’s managing partner, Dustin Koth, is self-employed and focuses a significant portion of his law practice on estate planning and creditor’s rights. KGN has recovered over one hundred million dollars for its creditor clients. KGN has sophisticated collection software, partnerships with vendors, and the knowledge to discover assets quickly and accurately. Only a law firm that does this type of collection work regularly would invest the time and money into this infrastructure.
Mr. Koth also knows the crypto space well and can explain crypto culture to you, find hidden crypto, and ensure it is included in the property distribution for your divorce.
Click here to schedule an initial consultation with an experienced divorce lawyer in Bloomington IL who can help you find the money your spouse is hiding.
Convenient Appointments
Our office is located in downtown Bloomington IL, but we also handle divorce cases outside of McLean County. We often represent clients in the neighboring communities of Peoria, Pekin, Pontiac, El Paso, etc. so we frequently go to court in Peoria, Tazewell, and Livingston county. We offer appointments over the phone and via zoom so even if you are an hour away from our office in Bloomington, don’t let the distance bother you. Finding an experienced divorce attorney who cares is worth it.
For more information, review the Related Topics below regarding divorce and other issues that may be involved in your case, such as maintenance/alimony, child custody and visitation, and child support.
Related Topics:
10 Best Divorce Lawyers Bloomington IL | Divorce & Family Law | High Profile Divorce | What Is Marital Property Versus Non-Marital? | KGN’s Initial Consultation Fee & Process | Cannot Afford A Lawyer? | Is There Still A Chance To Salvage Your Marriage? | Child Custody Lawyer Bloomington IL | Child Support Lawyer Bloomington IL | Family Law Attorney Bloomington IL | Best Lawyers Bloomington IL
