Protecting Digital Assets During a Divorce
Digital assets are defined as any kind of property that solely exists in an electronic format, such as videos, pictures, and other documents on your computer. In today’s modern world, however, it may also include cryptocurrencies and non-fungible tokens (NFTs). Depending on the amount and type of digital assets you have, they may be worth a substantial amount and, much like any other marital asset, they will have to be divided during the process of dissolving your marriage.
How to Protect Your Digital Assets
If you did not create a prenuptial agreement or postnuptial agreement, stating how marital assets are to be divided in a divorce, your digital assets will be divided according to state law. North Carolina is an equitable distribution state, which means that all marital assets are divided as fairly as possible, which may not necessarily be equal.
To protect your digital assets, you should try to maintain individual ownership by storing them solely in your name and being the only person with access to the account’s username and password. Some digital accounts may even state that assets must remain in a single account and cannot be divided.
Estate planning is another effective method for protecting digital assets, especially if there is someone whom you would particularly wish to pass them down to. In your estate plan, you should include specific information for these accounts, such as username and password information and how these digital accounts may be accessed.
Discuss the Details of Your Divorce with an Experienced Family Law Attorney Today!
Ending a marriage can be a challenging and complex process. If you have assets that could further complicate matters, such as digital assets, you may encounter some unique obstacles that require the guidance of an experienced divorce attorney. At David Self Family Law and Mediation, our attorney can provide the compassionate legal support and skilled representation you need to obtain the best results for your case. When you choose to work with us, you will receive the assistance of a team that will fight tirelessly to protect your assets and interests.
Reach out to our law office today at (980) 223-3340 to set up a consultation with our attorney to get started on your divorce and learn more about what we can do for you.