Updated: Jun 12
Asset Searches can be complicated. There is a slew of information that can be collected and several trails to follow that may lead to various unknown assets that may help you during litigation, a divorce or other business matter. But looking for assets before you jump head first into a challenging situation can make quite a bit of difference. Lets look at 3 reasons you should conduct and asset investigation before you begin.
1. Asset Search Before You File For Divorce
Divorce proceedings can get complicated. If you are reading this now and have not applied for divorce — STOP.
Hire a private investigator to search for all unknown assets. "Unknown, I know everything my partner has". Maybe this is correct in your case, but can I tell you how many times my clients jaws have dropped when they learned otherwise? Sometimes we can't see the forest for the trees and miss some cleverly crafted schemes that a partner concocts in order to hide money, property, stock and other interests, even before a problem in the relationship ensues. How much more so is the case when they know there is an impending change to their relationship status.
We provide our asset investigations to divorce lawyers and private clients. If it is too late and you began proceeding with divorce, not to worry, we can still help. But, it is advantageous to start looking for assets before you begin the process.
2. Investigate Assets of a Potential Business Partner
How many times in your life have you heard someone say "I'm good for it"? Just to realize that when you needed them to come through they couldn't do so.
Put up or shut up -- as the saying goes. Asset searches make believing claims of capital and property as ways of supporting a new venture, more believable when your business partner says they will be funding with theses type of assets.
Getting a chunk of cash in the beginning may be easy, but what about the long-term business plan? Does it include infusions of capital backed by promises of real property or bonds maturing?
Make it part of your due diligence plan to know your partners true potential for putting up their fair share -- conduct an asset investigation before you potentially lose your side of the investment.
3. Before You Sue Someone
Before you jump into a lawsuit, it is incumbent upon you and your legal team to know what the possibility of collecting money if you win your judgement.
Often, knowing before you begin the proceeding to sue someone, can help you shape how you will sue them and what you will look to recover. As the saying goes... "you can bleed blood out of a stone" holds true. Judgments are likely to falter or not be followed through on cases where there are no assets.