Topic: Crypto and Family Separation (Read 2859 times)
the old saying is "remember to cover your assets"
Check your country status on bitcoin. Is it legal firstly if yes then there would be a share with the person depending upon the ratio agreed or as per your country norms. Since in few places its not legal then there cannot be any right on it. Agreeing mutually is the best option if it can work out in your case.
Bitcoin is not recognized by governments as a currency. Therefore it is not an asset and is not subject to division upon divorce. I think it's right. The opportunity to earn bitcoins is at all and so they should not be regarded as jointly acquired property. Everyone should be their own expense.
You should be clear which country you are referring to. In the USA, "Virtual Currency Is Treated as Property", and thus very much subject to division. https://www.irs.gov/newsroom/irs-virtual-currency-guidance
Bitcoin is not recognized by governments as a currency. Therefore it is not an asset and is not subject to division upon divorce. I think it's right. The opportunity to earn bitcoins is at all and so they should not be regarded as jointly acquired property. Everyone should be their own expense.
I don't understand what the problem is. Any division of property is made on the basis of the submitted documents. Who can provide information on the existence and balance of your account in bitcoins? These funds are not subject to division. Access to them is the only one who knows where they are. You must decide for yourself how much you are willing to give his wife and children. Can not give anything. This is not a violation of the law.
Presumably most people bought with a bank account and spouses talk to each other. The likelihood is that your beloved knows you bought some bitcoin and can point to when you bought it which can then be linked to a transaction.
You can of course claim that your coins were tragically lost in a hardware failure. Courts have heard every excuse in the book. You may well get away with it but expect to be put under some major pressure.
If submitting your financial records was optional then non one would get anything. If you lie during the process and it's discovered then expect plenty of legal unpleasantness.
Legally, that would be the right thing to do.
But since BTC isn't regulated, then no one can keep you accountable for that.
But since BTC isn't regulated, then no one can keep you accountable for that.
I don't understand what the problem is. Any division of property is made on the basis of the submitted documents. Who can provide information on the existence and balance of your account in bitcoins? These funds are not subject to division. Access to them is the only one who knows where they are. You must decide for yourself how much you are willing to give his wife and children. Can not give anything. This is not a violation of the law.
If the law dictates anyone should follow. There is no other way to go but to let go half of it. And if in better terms you can agree to put 25% for educational plan for your children that a good sign. You don't have to worry much as you posted it this few months backs bitcoin is so much cheaper and if you hold the other half, isn't this a sign that the fund that you think gone just back double because of increasing price.
I don't know what I would do if I was in your position but this law is utter rubbish. 50% of all your financial assets is theft. If females are truly 'independent' and 'strong' there shouldn't be this kind of law. Same goes for the kids. In the US men can be stripped off their children way too easy. If I lived in the US, I wouldn't even bother marrying which is sad because eventually I would like to get married.
You don't have to split the bitcoins 50-50. You have to split overall assets 50-50. If you can give her more non-bitcoin assets, you can keep more of your bitcoin assets.
Interesting one, that.
I suppose it depends on how much in the dark you've kept your beloved. If you were jumping up and down with excitement for years on end he or she is going to be rather more interested in getting their hands on it.
If you mainly keep your gob shut and have the occasional moan about these weird strings of numbers you can't figure out how to get rid of, your post split future will be all the brighter. They can keep the yacht and feel like they got a deal.
Well i guess this goes on how is your statues in life. Probably most single would have all of of there savings like me. But i guess it would be better to atleast share it with own family for them have some investing on there own. I know families can easily beg or ask for money but thats the risk in having a family but also risk in bitcoin. You can make another income resource once your family can at least manage there own in the crypto world.
You don't have to split the bitcoins 50-50. You have to split overall assets 50-50. If you can give her more non-bitcoin assets, you can keep more of your bitcoin assets.
Interesting one, that.
I suppose it depends on how much in the dark you've kept your beloved. If you were jumping up and down with excitement for years on end he or she is going to be rather more interested in getting their hands on it.
If you mainly keep your gob shut and have the occasional moan about these weird strings of numbers you can't figure out how to get rid of, your post split future will be all the brighter. They can keep the yacht and feel like they got a deal.
You don't have to split the bitcoins 50-50. You have to split overall assets 50-50. If you can give her more non-bitcoin assets, you can keep more of your bitcoin assets.
Giving 50% of my assets with btc is going to be hard for me. Just give her all your cash but don't give her the cryptocurrencies. You're going to regret it one day if you do that.
If you are right with law you are supposed to give her 50%, I agree that crypto is worth money, and therefore an asset. You are supposed to declare 100% of your assets in the divorce proceeding and i think it is not quite fair.
If you don't declare all of your assets during the settlement, and it well and truly doesn't matter what they are, then more than likely you'll be breaking the law where you are.
Utter rubbish. Bitcoiners need to let go of the idea that they're immune from conventional legalities or it'll bite them badly eventually.
The issue of giving your ex certain percentage of your assets is if those assets are recognizable by law because I am sure if you are trading in cocaine and your ex knew about it, she won't ask for some powder as a form of settlement the same thing with bitcoin. If the law does not recognise it in your place of abode, then it does not exist in the legal sense and what does not exist, cannot be shared under any circumstances.
Utter rubbish. Bitcoiners need to let go of the idea that they're immune from conventional legalities or it'll bite them badly eventually.
Agreed. If you are in the U.S., the IRS can tax what you have as an asset. Therefore it is legally recognized. Therefore, tell your attorney and let him or her handle the rest.
The law on this case is really clear. Your wife must have 50% of your Bitcoin holdings. Of course, you can negotiate with her on the basis that you are the one who can manage that asset well and it is on the interest of all parties that it can remain on your hands. On my opinion, that would be the best option.
Now, I am sure that your wife will understand on the basis that what you are doing is actually benefiting the future of your children and that proceeds from this Bitcoin asset will be utilized for the children's needs. It is all a matter of talking well and both sides having a cool head.
Good luck on your new life, by the way. I am sure that a better life is planned for you ahead.
Now, I am sure that your wife will understand on the basis that what you are doing is actually benefiting the future of your children and that proceeds from this Bitcoin asset will be utilized for the children's needs. It is all a matter of talking well and both sides having a cool head.
Good luck on your new life, by the way. I am sure that a better life is planned for you ahead.
Thanks - yeah the taking the kids and dragging me through the dirt over the last 3 months hasn't been a lot of fun. Not to get in to the whole story, but no she doesn't have a very valid case. She's got some good lies. Though it takes 2 to fall out so I'm ok taking 50% of the blame.
I'd love for things to be done amicably but she's chosen a different path unfortunately...
Sorry to be cynical, but she sounds like a typical American woman. Watch out for false allegations of abuse, child neglect, etc. - these systems are heavily biased in women's favor. Often all it takes to get you screwed is her making an unsubstantiated claim. Unfortunately, if she goes that route, you will be "guilty until proven innocent". Remember to shoot video if there is ever any kind of confrontation, as she may try to claim that she "felt threatened".
You might be able to save yourself money and time with lawyers if you offer her a monetary settlement in exchange for dropping her case. Don't negotiate with her lawyer directly however.
I would advise you to worry less about the law and think about how your wife has treated you and the family. Often times wives will get greedy and just try to get as much of your assets as they can, and then spend it on their new man instead of the kids. If she is taking the kids away, you need to make sure you will get to spend time with them. After a year or two you will see the importance of your rights as a father. Since she has hired a lawyer it likely means she will try to get everything in her favor,
Often what happens is the man holds the money hostage and the woman holds the children hostage. So the coin might be your negotiating leverage to see your kids.
Often what happens is the man holds the money hostage and the woman holds the children hostage. So the coin might be your negotiating leverage to see your kids.
Hoepfully OPs separation will be amicable but if not you make some great points.
Maybe OP can say he lost it when exchange went down? Or say you lost it another way by getting scammed
You definitely want to protect yourself in the event the wife is vindictive.
A woman is taking your kids from you dude that's messed but maybe it was the right thing I don't know the specifics
Thanks - yeah the taking the kids and dragging me through the dirt over the last 3 months hasn't been a lot of fun. Not to get in to the whole story, but no she doesn't have a very valid case. She's got some good lies. Though it takes 2 to fall out so I'm ok taking 50% of the blame.
I'd love for things to be done amicably but she's chosen a different path unfortunately...
I would advise you to worry less about the law and think about how your wife has treated you and the family. Often times wives will get greedy and just try to get as much of your assets as they can, and then spend it on their new man instead of the kids. If she is taking the kids away, you need to make sure you will get to spend time with them. After a year or two you will see the importance of your rights as a father. Since she has hired a lawyer it likely means she will try to get everything in her favor,
Often what happens is the man holds the money hostage and the woman holds the children hostage. So the coin might be your negotiating leverage to see your kids.
Often what happens is the man holds the money hostage and the woman holds the children hostage. So the coin might be your negotiating leverage to see your kids.
Hoepfully OPs separation will be amicable but if not you make some great points.
Maybe OP can say he lost it when exchange went down? Or say you lost it another way by getting scammed
You definitely want to protect yourself in the event the wife is vindictive.
A woman is taking your kids from you dude that's messed but maybe it was the right thing I don't know the specifics
I would advise you to worry less about the law and think about how your wife has treated you and the family. Often times wives will get greedy and just try to get as much of your assets as they can, and then spend it on their new man instead of the kids. If she is taking the kids away, you need to make sure you will get to spend time with them. After a year or two you will see the importance of your rights as a father. Since she has hired a lawyer it likely means she will try to get everything in her favor,
Often what happens is the man holds the money hostage and the woman holds the children hostage. So the coin might be your negotiating leverage to see your kids. I know it doesn't sound fair, but it's just the way things happen.
Of course if she is a good person she deserves to have enough money to live comfortably and care for your children.
I don't think bitcoin is a long term asset for the next generation. It will likely be replaced with a better crypto in the next 20 years.
Often what happens is the man holds the money hostage and the woman holds the children hostage. So the coin might be your negotiating leverage to see your kids. I know it doesn't sound fair, but it's just the way things happen.
Of course if she is a good person she deserves to have enough money to live comfortably and care for your children.
I don't think bitcoin is a long term asset for the next generation. It will likely be replaced with a better crypto in the next 20 years.
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