In the past, a divorcing couple might have to worry about dividing the matrimonial home, the family business or a rare book collection. Today, however, more and more couples live a significant portion of their lives in a digital environment. It is important to treat their digital assets with the same care and attention as would be given to dividing a vacation property.
Digital assets can mean different things to different couples from a collection of shared vacation photos, to a shared eBay seller account with countless positive reviews. It is crucial that a divorcing couple takes the time to thoroughly list these items so they can be carefully reviewed and divided in the way that makes the most sense to all parties.
Digital assets can include:
- Entertainment accounts: It is not uncommon for couples to share logins across multiple online platforms. When these platforms are used to amass entertainment collections of movies (platforms such as Movies Anywhere or Vudu), music (iTunes) or books (Kindle), it can be challenging to figure out a way to divide these downloaded and stored assets.
- Online stores: In today’s digital world, it is easy to start an online store through an established platform. From eBay and Mercari to Facebook Marketplace and Craigslist, couples can list and sell items while cultivating positive reviews to increase their business reputation. How would this type of asset be valued and divided?
- Cryptocurrency: While this could specifically refer to currency such as Bitcoin, it might also be expanded to cover other financial resources such as the cash back bonus on a shared credit card or travel miles accumulated through a rewards program.
While these assets might have a specific monetary value assigned to them, couples might also need to address other shared digital space including social networking sites, a blog or vacation photos in cloud storage. It is wise to discuss these matters with an experienced family law attorney who can clearly answer your questions.