Victoria Clarke, also known as the Crypto Divorce Lawyer, is an experienced Solicitor and the Head of Family at Elite Law Solicitors. We sat down with Victoria to find out more about her background and expertise in dealing with crypto assets.
What is the first thing you do if a client is divorcing someone with crypto assets?
Ask my client for as much information as they have about the crypto assets of their spouse, and explore our options in discovering anything the client does not know about.
How can you accurately discover the crypto assets someone has?
There are several ways you can investigate this further. You can look at browsing history, the activity of an IP address at the family home, and most importantly you can look through the person’s bank statements or credit card statements for transfers in and out to crypto exchanges.
What if you are told that the spouse cannot access the crypto? They might say they were hacked?
The person would need to be able to prove that this has happened. They can show the transaction history of a wallet that has genuinely been hacked, or show the efforts they have taken to get back into a wallet they say they have been locked out of.
How can you agree whether to divide up crypto assets? How can you value something so volatile?
We already work with assets that change their value throughout proceedings, such as shares and properties. They might not change value as quickly as crypto can (for example Luna in April/May 2022) but they have a value nonetheless. Settlement can be reached using a percentage of crypto or one client might choose to waive their interest in other matrimonial assets in exchange for keeping all of their crypto and taking the risk.
How many crypto divorces have there been so far?
Every case is confidential until it is reported in a more senior Court. At this stage, there have not been any cases that have been reported so it will probably take some time. There are gradually becoming cases reported in the civil courts and so it is likely the Family Court will follow eventually.
How did you get involved with crypto in divorce?
I first become involved with crypto in 2011, and when I became a family lawyer I did not think the two would ever meet. 11 years later I am now advising clients in family proceedings that have crypto, because I have the fortunate position of understanding both areas well.
What would your advice be to anyone getting divorced with crypto or marrying someone when they have crypto?
If you are engaged and worried about protecting your assets on divorce then I would encourage you to obtain a pre-nuptial agreement which can explain what would happen to your assets if you got divorced. If you are getting divorced, and think there is crypto, you do not have to assume that means things will get messy or your ex will try to hide something. Give them the benefit of the doubt if everything else is still amicable, and they might surprise you.
Get in touch with the Crypto Divorce Lawyer
If you have any queries relating to this article, please get in touch with our Crypto Divorce Lawyer, Victoria Clarke, by calling 0800 086 2929, emailing info@elitelawsolicitors.co.uk or completing our Free Online Enquiry Form.
