Digital Assets and Your Divorce

Wednesday, May 1, 2019

 Digital Assets and Your Divorce

In a Florida divorce, the law focuses on making sure the couple’s marital property is divided fairly. While some marital assets are easy to value and allocate such as a car or bank account, others such as electronic assets can be more difficult. Here are some considerations regarding dividing digital assets during your divorce

Marital Property

Ordinarily, a couple’s marital property refers to the property that they acquired during the marriage. This includes income which is due but may not be paid until after a divorce. This may consist of funds such as an employment-related bonus or an unpaid stock dividend. Assets purchased during the marriage which are stored on a digital medium can also be marital property.

Digital Assets

Given recent advances in technology, it is increasingly common for valuable information to be exclusively stored in digital formats. These digital assets can include content obtained from companies such as Amazon, Audible, iTunes, Vudu, and Google Play as well as financial accounts and currency such as Bitcoin. Digital assets can also include personal photographs and videos.

Digital Assets Division

When preparing for divorce, it is a good idea to take an inventory of all of you and your spouse's shared assets. While going through this process, you will need to include all digital assets as well. Property such as your entertainment data could be worth thousands of dollars. Likewise, online accounts and financial holdings could also have substantial worth. Your personal family photos and videos which carry semimetal value can also be an important asset during divorce.

If you are suspicious your ex has more digital assets than have been disclosed during the divorce, you and your attorney may have to take steps to be sure they are identified for purposes of equitable division.

When considering digital assets during divorce, it is vital that you be aware of everything you and your spouse have. We have knowledge and experience with helping clients find all of their marital assets and ensure they are properly valued and fairly divided during divorce. Please contact us to schedule a free consultation. We invite you to learn more about our firm here.

The Draper Firm

5/1/2019

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