Divorce often involves dividing property and assets, that range from houses, retirement accounts, vehicles, business ownership and all kinds of personal belongings. For the tech-forward, another growing segment of property is being found in these cases: cryptocurrency stored in “cold storage.” If you or your spouse hold digital assets offline on a hardware wallet or similar device, it can raise unexpected questions and issues during the divorce process.
When going through a divorce in Indiana, both spouses are generally required to provide a full and honest accounting of their assets. This includes not only obvious items like homes, vehicles, and retirement accounts but also purely digital assets such as cryptocurrency.
Many people who hold crypto in cold storage (on a hardware wallet, paper wallet, or another offline method) worry that disclosure means they must hand over the device, private keys, or full control of their funds. That’s not the case.
Dividing assets is one of the most complex and contentious aspects of a divorce. Missteps during this process can have lasting financial consequences. We are hired on many cases every year to try and fix issues in finalized divorces which can cost thousands and thousands of dollars to correctHere are some of the most common mistakes to avoid when dividing assets in an Indiana divorce.
Mistake 1: Overlooking Hidden or Less Obvious Assets
Many people focus on major assets like the home or retirement accounts but forget about:
The family home is often one of the most significant and emotionally charged assets to divide in a divorce. Deciding what to do with it involves both practical and financial considerations. In Indiana, there are several options for handling the family home during a divorce.
Option 1: One Spouse Buys Out the Other
A common solution is for one spouse to keep the home by “buying out” the other spouse’s equity. This requires:
If you own a business and are facing a divorce in Indiana, one of the most complex and critical aspects will be determining the value of that business. In Indiana, your business is generally considered part of the marital estate, meaning it is subject to division during divorce proceedings.
Why Your Business is Part of the Marital Estate
Indiana follows the “one-pot” theory, which includes all property owned by either spouse at the time of filing for divorce, regardless of when or how it was acquired. This means even a business you started before marriage can be considered marital property.
Family law matters—whether it’s a divorce, child custody dispute, or parenting time issue—can feel like an emotional and legal maze. The decisions you make today could shape your family’s future for years to come, which is why finding the right attorney is so critical. If you’re searching for a family law attorney with a free consultation in Indiana, look no further than Harshman Ponist Smith & Rayl, LLC. We offer free initial consultations to help you understand your options and take the first step toward resolution.
Facing a family law issue can be overwhelming, and the last thing you need is added financial stress before you even hire an attorney. A free consultation gives you the chance to:
Indiana Law Blog