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Are your digital assets prepared for divorce?

Digital assets are a part of our everyday life. These assets can range from social media sites to online banking accounts. Whether the account provides a fairly innocuous financial benefit or is a sizable asset, it is important to account for our digital belongings when navigating a divorce.

How do we account for digital assets during divorce?

Applicable law generally considers digital assets with a monetary value property. Depending on the details of that property, it could be subject to division during divorce. In most cases, courts will only deem the property separate from the divorce if the owner did not co-mingle it with joint property. Keep records of these assets to better ensure they are accounted for during negotiations.

Once you determine the split of digital assets, it is wise to change passwords. It is particularly important to change passwords if one party is getting electronic devices. Keep in mind, electronic devices often save password information.

Can I still use digital assets?

When it comes to monetary digital accounts like online banking accounts, use the accounts the same way you would use tangible accounts. Courts frown upon any misuse or attempt to hide the asset by either party to the divorce.

You can continue using social media sites, but do so carefully. Your ex could use any information posted on these platforms against you during the divorce proceeding.

Not all of technology is a problem during divorce. Technological advances can play a helpful role during divorce. Online calendars, for example, can help to better ensure parents are on the same page about their children’s schedules and ease some of the difficulties that can crop up with last minute changes that often come with school obligations or extracurricular activities.

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The Law Firm of Hauer & Snover

The Law Firm of Hauer & Snover
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Bloomfield Hills, MI 48301

Telephone: 248-258-0800

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