Texas divorces can be challenging at the best of times, but things become exceptionally tricky when high-net-worth couples are involved. One of the main issues in such high-asset divorces is the discovery of hidden assets.

Hidden assets are funds and properties that one spouse may try to conceal from the other spouse, their attorneys, or the court, in order to avoid losing them during property division.

Often, spouses may transfer these funds and assets to offshore accounts, to hide them from their partner during a divorce. However, an experienced and resourceful Austin high-asset divorce attorney can help find these assets and ensure that their client receives a fair settlement.

Getting a divorce in Texas can be a complex and stressful ordeal, and things become even more complex when it is a high-asset divorce. Division of assets is a common point of contention in a high-asset divorce, especially when it comes to inherited assets.

Of course, you should always consult an Austin complex property litigation attorney or an Austin high-asset divorce attorney for guidance on your individual case.

That being said, let’s discuss how inherited assets are handled in a Texas divorce.

While many Americans have heard about Bitcoin and other cryptocurrencies, less than 25 percent say they know a lot about them. If you are involved in a high-asset divorce and suspect your spouse may hiding assets, cryptocurrencies could be the perfect hiding place if you yourself are not familiar with these assets.

With only a small amount of people actually familiar with cryptocurrency, it is important to work with a high-asset divorce attorney and other financial professionals who are familiar with and experienced in finding hidden cryptocurrencies. Although each spouse is required to disclose all assets in their financial affidavits, including the value of any crypto assets, it is not surprising that a spouse on a mission to hide assets would not make this disclosure on their affidavit.

Where to Look for Crypto Assets

There are multiple exchanges where crypto assets can be purchased. If a spouse has purchased these assets, then the first place to look would be in their bank and credit card statements. Some of the exchanges to look for include:

Often, when a couple begins to talk about ending their marriage, the process of the breakdown of the marriage has been occurring for some time, whether each spouse realizes it or not. Many times, one of the spouses has already decided they want a divorce and has even put plans into place to protect their financial future, but has not shared those plans with the other spouse. This leaves the other spouse vulnerable when it comes to their financial future. This is a particular problem in high asset divorces.

Who Handles the Money?

It is not uncommon for couples to “delegate” to each other different chores or responsibilities. For example, one spouse may be the one that takes the lead on most of the home decorating decisions or oversees the majority of the couple’s social and family commitments. In most marriages, although one spouse may be the one “in charge” of the responsibility, the other spouse still has input.

This is especially true when it comes to the handling of marital finances. In many marriages, although the couple makes financial decisions together, the responsibility of making sure the bills get paid and watching over investments usually falls to one spouse. Although this system works for these couples, it can put the other spouse in serious financial jeopardy if the spouse who handles all the money decides to file for divorce.

It is rare that a divorce does not have some level of complexity involved. These complications become even more compounded if a couple has substantial assets that need to be divided. This is usually because the more assets and property there are, the more there is to fight over, especially if the divorce is an acrimonious one.

Many high net worth divorces involve real estate, stocks, trusts, business interests, jewelry, art, antiques, and more. In order to ensure that there is a fair and equal division of your marital estate, it is important to have a qualified and experienced high-asset divorce attorney representing you. The following tips can also help to ensure that the process goes as smoothly as circumstances allow.