One of the many roles undertaken by a private investigations company is to conduct effective asset searches. It’s often the case, when the subject is mentioned, that many potential customers aren’t fully certain what an asset search is, what it should achieve, and when it should be undertaken. This simple introductory guide will help.
What exactly is an asset search?
This is usually a national search across both the available public and non-publicly available records. Its purpose is to locate any kind of personal property owned by an individual or corporate entity. These might typically include bank or building society accounts, stocks, shares, pensions, physical property, and the like. It should also discover any current or potential liabilities that may exist against those held assets. These could include outstanding tax matters, bankruptcy proceedings, court judgements and so on.
When is an asset search of value?
There are a wide range of circumstances where such a search can prove of great value. Common personal situations include the break-up of a marriage where divorce proceeding are either already ongoing or likely to be started. Increasingly in modern times, they are used in the early days of a relationship if a pre-nuptial agreement is being considered by one or both of the parties.
A third personal option is after a bereavement, where it is considered either possible or even likely that the deceased has not fully disclosed their assets during their lifetime. Other obvious situations include those where an individual wants to know if it is worthwhile to pursue an outstanding debt. It’s also possible that someone may be considering whether a claim for injury or damages after an event is worth pursuing.
These are only a small number of examples of the range of reasons why a professionally-conducted asset search can prove to be of great value – or, ultimately, to save much time being wasted where pursuing action would gain no real reward.
Why choose a private investigation firm for such work?
The simple answer is that this can be both a complex and time-consuming process. It therefore pays to use the services of those who know the places to look and the procedures to follow. This is particularly true when it’s likely that a deliberate attempt to hide such assets has been made. It’s also true that a better judgement can be reached, as to what action should be taken, by an objective outsider, than by those with a personal and often emotional investment in taking a certain course of action.
