Digital Assets: How Are They Divided in Divorce?

Back in the ’70s, the world was a different place, our lives moved at a slower pace, and we didn’t have to worry about so many different things.

A family snapshot got as far as a photo frame or album, and you didn’t have to worry that millions could see it in mere seconds. But in 2022, things are different because of the internet and virtual sharing.

Because of this, couples who are divorcing need to discuss in detail how their current and future digital assets will be handled.

A digital asset is not only images but written content, social media, online products and storefronts, virtual musical libraries, shared apps, online gaming sites, monthly subscription services, NFTs and cryptocurrency, to name a few.

If you find yourself in a court-litigated divorce, most trial courts will divide the digital assets evenly, regardless of who purchased or received them originally. However, in a mediated divorce, couples can divide digital assets in any way they deem agreeable.

Digital assets can be divided in a variety of ways. It’s also important to consider that digital assets may have financial and emotional value, and these two things need to be considered during the division process.

When you and your spouse choose the collaborative divorce process, each person will have access to a team of professionals: attorneys, divorce coaches, mental health professionals, and financial neutrals.

This team of experts will help you and your spouse find a path forward to an agreement that is mutually agreeable to both of you regarding dividing your digital landscape.

Our team at Family Divorce Solutions is comprised of experienced, licensed and trained attorneys, mental health professionals and financial neutrals. Our goal is to get both parties together and quickly come to a solution without going to court.

Contact us today to see how our team of collaborative divorce experts can help you and your spouse by dividing your financial and digital assets.

Note: This information is general in nature and should not be construed as legal/financial/tax/or mental health advice. You should work with your attorney, financial, mental health or tax professional to determine what will work best for your situation.