With cryptocurrency becoming more popular, it is increasingly included in divorce proceedings. Since it is a relatively new asset category, it can raise interesting questions about equitable asset division in an Illinois divorce. If you or your spouse own cryptocurrency, speak with a qualified Kane County, IL divorce lawyer to understand how it could be divided in divorce.
Determining the Value of Cryptocurrency
The state of Illinois differentiates between marital property and separate property. Any savings, investments, property, and other assets you had when you entered the marriage are generally considered exclusively yours. On the other hand, anything either of you acquired during your marriage is generally defined as marital property and subject to an equitable division during divorce.