An Asset search investigation and reveal an incredible amount of information about a person. There are many reasons why a person may hire a private investigator to conduct an asset search investigation. But some reasons are more common than others. This is a brief description of the most common reasons for an asset search.
1. Judgment Recovery – A litigant will win a lawsuit and obtain a judgment. This is an order from the court compelling a person to pay. But unless you can uncover a person’s hidden assets you may never be able to collect on a judgment. So you need to locate their hidden assets. Once the funds are located you can follow the legal procedures to seize the funds from the account.
2. Divorce Litigation – When a couple is going through a divorce proceeding many time one spouse will suspect the other of hiding assets. It could be cash, property, vehicles or business holdings. But the one thing most people are seeking in these types of investigations are hidden bank accounts.
3. Child Support Collections – You may have a Bank search judgment for child support but the ex refuses to pay and is working off the books so you cannot garnish their paycheck. An asset search can uncover hidden business interests, stocks, and secret bank accounts. Sometimes the search will include employment information as well. If not there are specific investigations regarding current place of employment that could be bundled in with the asset search.
4. Pre-Litigation – You may have a very good case against someone but if they have no insurance and no assets to pay a judgment there may be no point in going through the expense of litigation. A pre-litigation will spare the expense of a pointless trial.
5. Disputes Over Wills and Probates – There are often disputes between heirs after a death. many times family members feel that the executor of the will is keeping them in the dark about the deceased’s assets. An heir may feel better if no stone is left unturned.
A typical asset search investigation will locate property, real estate holdings, vehicles, bank accounts, trust accounts, businesses and even PayPal accounts. It can uncover a wealth of information and when used in conjunction with subpoena power and a forensic accountant or other professional can solve every one of the problems listed above. There may be other reasons why people will hire an investigator to perform an asset search but these are the most common.