Tracing Cryptocurrency & Finding the Crypto Wallet in Divorce
How Can You Tell if Someone Owns a Crypto Wallet? Can Cryptocurrency Be Traced in an Investigation for Divorce?
How can you tell if someone owns a crypto wallet?
Well, you have to know what kind of a wallet it is. Is it a physical wallet? Meaning, is it something they actually carry? Or is it a digital wallet? Which would mean it would be something that’s on a mobile app. It may be sitting at some other exchange. So, this is, again, where I start talking about certain behaviors. And if someone is converting marital assets into crypto and trying to do that conversion to hide or conceal assets, their behaviors and interests are going to change, right? You’ve got to think, somebody who you’ve been married to, if they’re doing this purposefully, there’s going to be the behavior of concealment.
Can cryptocurrency be traced in an investigation for divorce?
Yes, it can. If the crypto is on the blockchain, it requires specialty services for that. However, you may be able to trace it through analysis of bank statements, investment account statements, and analysis of pay stubs or other forms of deferred compensation. It doesn’t always have to hit the bank statement to mean that you didn’t earn it looking at the tax return. But if you can find those, you can also calculate the pattern. So, there might be a way that you conduct your investigation for the purposes of family law. And you don’t require services sometimes that are used for drug cartels and you’re trying to get assets back into something.
“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:
Who Gets Cryptocurrency in a Divorce?
Divorce & Cryptocurrency War Story
Three Best Cryptocurrency Tips for Divorce Lawyers
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?
