The digitization of our world means that many people do not just rely on technology—they may actually own it.

The increasing prevalence of intangible assets cannot be ignored. But when was the last time you asked a client if they maintained cryptocurrency, NFTs (shorthand for “non-fungible tokens”), and/or any other intangible asset? Unfortunately, most people lack total understanding of this class of assets. In fact, only 1 in 4 people knows what NFTs are according to a poll conducted earlier this year (https://money.com/what-are-nfts/?ref=/people-know-what-nft-is/). Given that any and all assets established or acquired during a marriage are presumptively subject to equitable distribution under N.J.S.A. 2A:34-21.1, this lack of knowledge as to an increasingly popular class of assets poses significant risks for practitioners and divorcing spouses.

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