Three Best Cryptocurrency Tips for Divorce Lawyers
Joshua Shilts shares his three best cryptocurrency tips for divorce lawyers. What do divorce lawyers misunderstand most about cryptocurrency?
My three best cryptocurrency tips for family lawyers.
Number one: Included as a question on your intake form, are there concerns about cryptocurrency? I think it is an asset. It’s one that’s going to stay. I don’t know how much we’re seeing now, but I bet you, and again, this depends on regulations and things outside of my control, but there’s an interest in this. And there’s a use for this. So, in five years, how much more are we seeing this on equitable distribution sheets? In 10 years?
My second tip is keep educated. What is cryptocurrency? What are some of the different schemes involved with cryptocurrency? The Association of Certified Fraud Examiners, the AICPA forensic group, they all have good resources about that. If you do look at some of the crypto schemes, it’s talking about money laundering. So, from a family law perspective, I think we have to look at it from asset conversion.
And my third tip as it comes to cryptocurrency is recognize that there’s not just crypto, there’s other assets. There’s NFTs. There’s other digital assets. And as I was talking about with Fintech, we’re probably going to find out more. Understanding personal balance sheets is, in my opinion, probably the hardest job that a family lawyer has just because they went to law school, but they’re tasked with having an accounting and finance knowledge.
“Cryptocurrency in Divorce” is a video series with Joshua Shilts CPA/ABV/CFF/CGMA, ASA, CFE answering important questions from divorce attorney Miles Mason, Sr. Miles attended two of Joshua’s lectures with the AICPA’s Forensic and Valuation Services annual national conference and the Tennessee Society of CPA’s annual forensic conference. “Joshua is a dynamic and exceptional speaker. We had to get Joshua on our YouTube channel!” We are fortunate he agreed to educate us on this emerging topic in family law and hope to have him back soon. View his videos:
Tracing Cryptocurrency & Finding the Crypto Wallet in Divorce
Who Gets Cryptocurrency in a Divorce?
Divorce & Cryptocurrency War Story
Meet Josh Shilts, the Forensic and Business Valuation Expert
Joshua Shilts CPA/ABV/CFF/CGMA, ASA, CFE
President of Shilts CPA, PLLC, Mr. Shilts’ practice is located in Jacksonville, Florida, but testifies nationally. He is focused on assisting attorneys, individuals and businesses with complex financial matters and disputes. Mr. Shilts has held roles with international consulting and public accounting firms in Miami and New York City as well as positions with large public organizations. Mr. Shilts is a frequent lecturer on a variety of forensic accounting matters. He has been involved with hundreds of forensic investigations dealing with a variety of matters involving personal and business disputes as well as the identification and mitigation of fraudulent activities. Clients have sought Mr. Shilts’ advice and services because of his unique industry experience and knowledge.
Mr. Shilts has provided expert testimony in commercial and family matters surrounding business valuation, economic damages, fraud and other applicable disciplines surrounding economic and accounting issues. He has been qualified as an expert and testified in State and Federal courts.
To learn more about Mr. Shilts and his firm, please view: Shilts CPA, PLLC.
For more discussion, see Property Division in Tennessee Divorce and view our video Is Tennessee a 50 50 divorce state?
