Asset investigation is a specific type of forensic background check which is used to uncover the financial profiles of individuals and companies. Asset checks are used for a variety of possible reasons and are a vital part of the private investigation industry. Asset searches are nearly impossible to accomplish without expert assistance, so all interested parties should certainly consider hiring a professional investigator who specializes in asset discovery.
This report explains the process of financial investigation that is used to uncover and disclose all monies, property and resources that are owned by a person or company.
Asset Investigation Explained
Asset searches are performed to determine just how many liquid, property, inventory, equipment and investment assets are owned by a person or organization. The sum of an entity’s assets is typically called their wealth or net worth.
Assets can be used to determine financial suitability for certain business transactions or can be used to trace obvious and hidden assets to create a financial picture of an individual or business. Asset checks that are performed by a professional detective who specializes in financial investigation will likely find even the most constructively hidden assets, foreign and domestic.
Reasons for an Asset Investigation
Asset checks can be performed for any number of reasons, but the most commonly sited justifications for asset searching include:
Credit report searches can help financially profile a person or business entity.
Judgment recovery efforts may require knowledge of a person’s ability to pay off a legal judgment. Judgment collection is a niche specialty of the financial investigation profession.
Business investigations are often dependent upon successful completion of an asset location search.
Embezzlement investigation cases usually entail forensic accounting to find all missing assets.
Divorce investigations often include an asset search to locate hidden wealth from one party or both. Likewise, premarital investigations often involve detailed financial investigations of one or both partners.
Asset tracing can locate hidden or offshore assets set up in the entity’s name or in the guise of a holding company or puppet company. These asset traces are typically used as part of criminal investigation cases.
Learn more about how an asset search is crucial before seeking wage garnishment via civil litigation. Also, be sure to fully understand the debt collection process, regardless of whether you are a debtor or a creditor.
Asset Investigation Gets Results
An asset investigation is a good idea before going into business with any person or organization. You do not want to be the victim of fraud and get stuck carrying the weight of a supposed economic powerhouse, that turns out to be little more than a smoke-and-mirrors thief with an empty bank account. Worse yet, you do not want to become burdened with a partner’s financial liabilities, which may become joint concerns in LLPs and corporate mergers.
A full financial investigation is also a good idea if you have won a judgment, but have not been able to collect. Many people will claim poverty, when all along they have the money or property which can be used to settle their debts.
To learn more about successful asset tracing practices, contact a private investigator who specializes in financial cases today. Learn more about being the subject of an IRS investigation.