Bitcoin: THE BRAND NEW Asset Protection Strategy in Divorce Cases
"Asset protection" has long been a strategy in divorce cases across the United States. The term "asset protection" refers to the usage of a legal strategy to be able to hide or shield assets from the Courts. Bitcoins, the relatively new internet currency, will likely become the next frontier of asset protection. In divorce cases, asset protection can take many forms. Sophisticated asset protection techniques involve transferring money to an overseas account, the formation of legal entities (trusts, corporations, limited liability companies) and other methods. The most unsophisticated and simple form of asset protection, and perhaps the most frequent in divorce cases, is merely holding money in the proper execution of cash (i.e., inside a home safe or in a bank safety deposit box). In this way, a person that is in the process of divorce believes that he can "protect" the cash from the divorce process. spicetoken The divorcing spouse might keep the exist...