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Addressing the topic of hidden assets in divorce

On Behalf of | Feb 3, 2024 | Divorce

Many individuals in Texas may feel that one of the most daunting aspects of dissolving a marriage may pertain to the idea of preparing to divide marital assets. After all, you and your soon-to-be ex-spouse could accumulate various types and amounts of assets and wealth during your marriage, and identifying and valuing every asset can prove a complex task. 

There may also be certain types of assets that might be easy to overlook, such as digital assets, and taking steps to address such factors could be vital to preserving your future interests. Digital assets can take on various forms and fashions, and similar factors could play a significant role in the outcome of your situation. 

Types of digital assets 

Digital assets that constitute community property will likely be subject to the property division process, and addressing such factors may be vital to preparing for what comes next. Some common types of similar assets may include: 

  • Artworks: Collections of art stored online are common types of digital wealth. This could include items you acquired over time or even artworks that are your own unique creations. 
  • Music and book collections: You and your soon-to-be former spouse may also accumulate vast libraries of digital music or book collections, and these items may prove a point of contention during legal proceedings. 
  • Email and social media: Digital assets can also take on the form of email and social media accounts. Even gaming profiles and online content might also be common forms of such assets. 
  • Digital currencies: Digital currencies, such as nonfungible tokens and cryptocurrencies, are also types of digital assets, and you could possess considerable wealth in similar assets. 

There are many types of digital assets, and even if such items might play a vital role in your situation, identifying and valuing such assets can prove a complex process. 

Developing a strategy 

There could be a variety of complex factors to consider while preparing to protect your future during the end of a marriage. When facing a divorce, it might be natural to be uncertain of what to expect from this process. Fortunately, you don’t have to navigate this process alone, and seeking guidance in addressing your situation and options could help place you in a better position to create a strategy that focuses on what is most important to your future in Texas.