Unraveling Hidden Cryptocurrency Assets in Divorce

Been There Got Out Podcast

Uncover the hidden world of cryptocurrency in divorce with our guest, Raphael Meyer, a renowned expert in the field. We're unraveling the complexities of digital assets and their impact on divorce proceedings. Raphael guides us through the basics, comparing cryptocurrencies to traditional financial systems and shedding light on their unique features, such as the absence of government backing and high volatility. Learn about the intricacies of cryptocurrency exchanges and how to uncover hidden assets during the discovery phase of a divorce.
When it comes to storing and managing cryptocurrency, the landscape can be quite challenging. We explore this with Raphael, delving into the roles of hardware wallets like Trezor and Ledger and highlighting the importance of informing your attorney about any crypto holdings. Raphael explains how the IRS views crypto transactions as taxable events and discusses the potential complications that arise when LLCs are used to hide assets. Discover how the volatile nature of cryptocurrencies can turn seemingly minor investments into significant sums.
Valuing and liquidating crypto assets during a divorce is no small feat. Raphael provides expert insights into navigating these turbulent waters and the tax implications involved. We emphasize the importance of setting an agreed value in US dollars to avoid future disputes. Learn about the role of crypto hunters in tracing hidden assets and whether hiring one is financially viable. Raphael also introduces his book "A World of Warning," offering additional resources for those eager to deepen their understanding of cryptocurrency. Tune in for a conversation packed with crucial advice for managing crypto assets in divorce.