If an individual believes that someone else is hiding assets that they may have an interest in, they may employ the services of a private investigator to help locate the assets. By locating these assets, the individual may be able to use them to their advantage in a legal case, attach the assets to a judgment or otherwise benefit from the discovery.
Situations Involving Hidden Assets
Hidden assets are most commonly involved in family law matters. For instance, in divorce or separation, a spouse may try to conceal assets with the goal of preventing the other spouse from getting a fair share of them in the legal proceedings. In a similar scenario, individuals may hide assets before signing a prenuptial agreement so that their new spouse isn’t aware of them. Hidden assets may also be involved in support matters where someone is trying to avoid fulfilling their monetary obligations, as can be the case in child support or spousal support cases. In some cases, hidden assets can be involved in a bankruptcy filing in an effort to retain some assets after financial ruin. Business partners may try to hide assets or a person who owes a debt to someone else may attempt to hide assets to avoid having these assets rightfully attached. In many cases, hiding assets is considered fraud.
Where Are Assets Hidden?
There’s an infinite number of ways that assets can be hidden, largely dependent on the tactics of the owner. Some choose to conceal assets within their business or create hidden corporations or LLCs. Others have offshore bank accounts where they discreetly store these assets.
In some cases, hidden assets are in the form of assets that haven’t yet been received. These can include stock options, a delayed bonus or a raise. In a divorce, a spouse may try to defer these assets until the divorce proceedings are finished so they won’t have to split it with the other spouse.
Legally Locating Assets
Private investigators have the skills and experience necessary to conduct a full and thorough investigation to help locate these hidden assets. In addition, they can prepare a report and offer testimony in court pertaining to these assets, so the court is aware of all relevant details of alleged misconduct involving hidden assets.
Private investigators have access to tools that can help them locate assets: databases, public records regarding property filings, tax returns and related documents. They also can cross reference names, addresses and other relevant information to gain insight on patterns and potential locations where assets are hidden.
The Smith Investigation Agency is a nationally recognized investigation agency that has achieved its stellar reputation on the strength of its trusted and professional private investigators. Contact us today and we’ll provide you with a confidential consultation to get you the help you need.