Celebrities Embracing bitcoin because of Divorce?

[bittraffic]

I thought it's the other way around, they accept BTC because they are seeing possibilities that in the future keeping BTC in their wallet will keep their coins with them and not going to be cut in half to be given to their ex-wife.

If you have BTC while you are still single and you got married after a year yet you still have your BTC in a wallet. Will these coins in the wallet be considered owned by the couple?

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[ven7net]

Recently, I found threads on this forum about celebrities such as footballers, musicians, e.t.c embracing bitcoin and choosing it as a payment method for brand endorsements. On the second note: I thought about it this way; since they are an increase in divorce in their industry, especially the musicians. Could holding bitcoin be a plan B for securing their assets if their spouse files for a divorce?

In search of an answer: I read a Law Firm blog that said something about sharing bitcoin 50/50 during a divorce. They clarified that any bitcoin transaction that occurred while the holder is married belongs to the marriage fund and can be shared if divorce arises and vice versa.

How do they get to know the truth?

They claim that some questions when asked to a spouse, would determine if they hold bitcoin (that's if they answered correctly or genuinely).

They can track a spouse's bitcoin transactions through the person's hard drive.

They urge people to open up about every asset they hold. Including; bitcoin when in court.

After a brief thought, I concluded my thoughts about some single (Not married) celebrities. Observing the rapid increase in the divorce of their colleagues would see bitcoin as a plan B to secure some funds to keep them balanced even if they experience such ill-treatment from their spouse in the future. Because most celebrities like DR Dre fell off balance after his wife filed for a divorce.

What do you think about this?

As for living together, as far as I know there are two directions. The first is when you officially live together and in the event of a divorce, the court decides your claims, including the division of common property. The second is when a marriage contract is drawn up and everything is immediately clearly spelled out who and what gets in the event of a divorce. As for the use of blockchain and cryptocurrencies for these procedures, why not? As far as we know, the BTC blockchain is transparent and everyone knowing the wallet number can view the balance and movement of funds, which makes this process fair. Because of this, many famous people are probably starting to use blockchain and crypto for such cases, so that in the future they will not have claims against each other.

[jostorres]

I thought it's the other way around, they accept BTC because they are seeing possibilities that in the future keeping BTC in their wallet will keep their coins with them and not going to be cut in half to be given to their ex-wife.

If you have BTC while you are still single and you got married after a year yet you still have your BTC in a wallet. Will these coins in the wallet be considered owned by the couple?

I think that will depend on the husband if he wanted to share all of his holdings including the bitcoins to her wife but before the husband do it, better if he observe her wife first if her wife is really faithful to him because we often heard stories about a wife that does something bad to their husbands. These kind of wives are not worthy to be given by a huge wealth.

Other than being used on divorce, the other possible reason why they use bitcoin is like you said because of the potential profit that they could get in the future because they already figured out that the price of bitcoin is growing overtime so it can be a good investment for their self of to their other half.

[famososMuertos]

...//...::,,,
What do you think about this?

First of all, there are extra things here that are difficult to apply and understand, first the law is not the same in all countries on that specific matter and in fact it may be different depending on the state or jurisdiction where you live.

The next thing is what kind of divorce you have, by mutual agreement or we are going to fight, in the first, common sense and cordiality prevail, would you like your wife or husband to hide you, you are using bitcoin, come on, it is something dirty and low, let's be honest , in case 1, because it's easy to say but if they break your heart, to call it tenderly in the month of love, so...

As a collateral to your question, what I like is that lawyers and in general in the near future, that is to say this Monday, people must begin to prepare and be informed, EVERYONE, because you must know if your partner handles bitcoin and you must look for a lawyer who correctly handles this information.

In my opinion there is a stupid belief that divorce means having to hide assets, so it is a pity that bitcoin is intended to be used again or bitcoin is wanted to be included in this type of discussion.

[uneng]

If you have BTC while you are still single and you got married after a year yet you still have your BTC in a wallet. Will these coins in the wallet be considered owned by the couple?

Depending on the agreement when you get married, everything that belong to you will also belong to your partner and vice versa. That is possible...

But it's also possible that the agreement will only count as marital property what was acquired by the couple during the marriage. There are exception though, like the house where the couple lives, for an example. Doesn't matter if it was acquired before the marriage by one the parts. Since they live together there, the house becomes marital property as well and must be splitted in case of divorce.

Bitcoin, on the other hand, is another story, because besides being acquired before the union, it's untouched and not shared to the partner, so it can be considered separate property that will fully remain with the original owner.

[eaLiTy]

All the celebrities and anyone with money will follow the financial trend and it is not a big surprise. In my country one of the regional actors were raided by the economic wing because he was investing heavily in the cryptocurrency market and they wanted to know everything about his investment which is not a great thing for the general public when you hear people are raided for investing in cryptocurrencies.

Right now it is basically impossible to invest in BTCitcoin without having a trail.

[Bitstar_coin]

From what I understand, any btc bought by any celebrity while still single will not be considered as part of the marriage fund! Well, if that is the case I guess it does make sense when the singles among them opt for btc to secure their financial status when they eventually tie the nut and end up divorcing.

The best solution to this will be to sign a prenuptial contract before the wedding for both spouses to understand what will happen when there is a divorce in the future, this simple agreement takes care of everything in this regard and both parties go their separate ways peacefully.

[mia_houston]

I thought it's the other way around, they accept BTC because they are seeing possibilities that in the future keeping BTC in their wallet will keep their coins with them and not going to be cut in half to be given to their ex-wife.

If you have BTC while you are still single and you got married after a year yet you still have your BTC in a wallet. Will these coins in the wallet be considered owned by the couple?

It is difficult to explain this and of course it all depends on the marriage laws that apply in a country or on a particular religion, but broadly speaking, bitcoins that are owned when we are single are absolutely our own and of course we have full rights to the assets. However, if we get married and buy bitcoins during the marriage, of course the bitcoins will become a shared right between us and our partners, but I think after the wedding of course we will also share them with our partners even though we have bitcoins when we are single, maybe in this case only we and our children will have full rights to what we have whether we are single or married later.

[Ararbermas]

I wouldn't be surprised why there's already some celebrities that keep holding bitcoin because as the matter of fact most of them are already in NFT's projects as well. wherein they keep promoting NFT's nowaday so it is not surprising that they will end up bitcoin afterwards, since it's the most trusted and reliable in the crypto space.

[freedomgo]

I thought it's the other way around, they accept BTC because they are seeing possibilities that in the future keeping BTC in their wallet will keep their coins with them and not going to be cut in half to be given to their ex-wife.

If you have BTC while you are still single and you got married after a year yet you still have your BTC in a wallet. Will these coins in the wallet be considered owned by the couple?

It is difficult to explain this and of course it all depends on the marriage laws that apply in a country or on a particular religion, but broadly speaking, bitcoins that are owned when we are single are absolutely our own and of course we have full rights to the assets. However, if we get married and buy bitcoins during the marriage, of course the bitcoins will become a shared right between us and our partners, but I think after the wedding of course we will also share them with our partners even though we have bitcoins when we are single, maybe in this case only we and our children will have full rights to what we have whether we are single or married later.

Assets or properties that you have acquired before the marriage will give you the full rights to own it. However, if you keep on acquiring the assets when you are already married, your partner will get a fair share on it once the marriage ended. You may read it here for further understanding about splitting your assets once divorce is filed.https://www.columbusfamilylawyer.com/blog/2021/february/am-i-entitled-to-half-of-everything-in-a-divorce/

[tippytoes]

From what I understand, any btc bought by any celebrity while still single will not be considered as part of the marriage fund! Well, if that is the case I guess it does make sense when the singles among them opt for btc to secure their financial status when they eventually tie the nut and end up divorcing.

The best solution to this will be to sign a prenuptial contract before the wedding for both spouses to understand what will happen when there is a divorce in the future, this simple agreement takes care of everything in this regard and both parties go their separate ways peacefully.

Prenup agreement is indeed a big savior once both parties are about to separate their ways. It will also save them lawyer fees if in case they have a lot to discuss with and the other party is not in agreement with the other. If you think that would make both your lives easy, one can always do it even if you're not a celebrity. Also, if you are still single and you already own crypto, you have the option to keep your btc or crypto stash without the knowledge of your spouse, that is, if you want to keep secrets that stash. Also, check the laws in your country, because possessions of assets may be different from one country to another.

[stadus]

From what I understand, any btc bought by any celebrity while still single will not be considered as part of the marriage fund! Well, if that is the case I guess it does make sense when the singles among them opt for btc to secure their financial status when they eventually tie the nut and end up divorcing.

The best solution to this will be to sign a prenuptial contract before the wedding for both spouses to understand what will happen when there is a divorce in the future, this simple agreement takes care of everything in this regard and both parties go their separate ways peacefully.

Prenup agreement is indeed a big savior once both parties are about to separate their ways. It will also save them lawyer fees if in case they have a lot to discuss with and the other party is not in agreement with the other. If you think that would make both your lives easy, one can always do it even if you're not a celebrity. Also, if you are still single and you already own crypto, you have the option to keep your btc or crypto stash without the knowledge of your spouse, that is, if you want to keep secrets that stash. Also, check the laws in your country, because possessions of assets may be different from one country to another.

Having a prenuptial agreement is even more applicable to those who have acquired assets and properties in their singlehood, as they still have the right to owned it fully even after a divorce. And owning bitcoin is not an excuse to this as it can be considered an asset because of its huge amount of value. But of course, even without those assets and properties before the marriage, prenup is still exercised by most of the couple nowadays before marriage takes place. However, if an individual refuse to declare his bitcoin assets, i guess its his choice as prenup does not require to specify all your assets especially if he has acquired it before marriage takes place.

[KaliLinux]

What do you think about this?

It is not entirely true that celebrities are saving bitcoin for fear of divorce, but they may buy coins to cover the cost of divorce or buy bitcoin with the money they receive from their husbands after divorce.

But that's right, all celebrities want to be in trend and Bitcoin is a trending topic or currency system.

On the other hand, the lifestyle of celebrities is very expensive and they need a lot of money to maintain this costly lifestyle and to meet that need, cryptocurrency or bitcoin is now a very suitable investment medium. So, they invest in Bitcoin in order to make more profit in a short time.

I agree too that, that might not be the main reason celebrities are getting into Bitcoin and besides, most of them have really come out publicly to confirm they have invested in some cryptocurrencies and that doesn't sound like they trying to hide anything. We know this is the trend now, anyone that understands knows investing in crypto is the best thing to do now hence celeb adoption too.