Pre-Litigation Asset Searches for Attorneys
Pre-litigation asset searches are essential for attorneys when preparing for a lawsuit, especially in cases involving debt collection, business disputes, divorce, or any scenario where the opposing party’s financial status is crucial. These searches help attorneys identify the assets of an individual or business before filing a lawsuit, ensuring that the defendant can satisfy a judgment or settlement. Here’s an overview of what Able Legal Investigations concentrates on
1. Bank Accounts
- Purpose: Identify domestic or international bank accounts to gauge available liquid assets.
- Methods: Private investigators, subpoena power, or licensed financial services.
2. Real Property
- Purpose: Locate ownership and and outstanding encumbrance on real estate, including residential, commercial, or undeveloped land.
- Methods: Public records, title searches, and county property tax records.
3. Vehicles, Boats, and Aircraft
- Purpose: Identify valuable personal property like cars, boats, or airplanes.
- Methods: DMV records, FAA registry, and other transportation-related records.
4. Business Ownership and Interests
- Purpose: Detect ownership stakes in businesses, partnerships, or corporations.
- Methods: State business filings, UCC filings, and partnership agreements.
5. Judgments, Liens, and Bankruptcy Filings
- Purpose: Determine if the individual or entity has existing judgments, liens, or has filed for bankruptcy.
- Methods: Court records, bankruptcy filings, and lien searches.
6. Intellectual Property
- Purpose: Identify ownership of patents, trademarks, and copyrights, which may have significant value.
- Methods: U.S. Patent and Trademark Office (USPTO) searches and copyright databases.
7. Income Sources
- Purpose: Identify employment income, and other revenue streams.
- Methods: Tax records (if obtainable), social media, and private investigators.
8. Investment Accounts
- Purpose: Locate stock holdings, retirement accounts, or other securities.
- Methods: SEC filings, financial brokers, or subpo
9. Offshore Accounts
- Purpose: Identify hidden assets or accounts in foreign countries.
- Methods: Specialized asset search firms, international databases, and cooperation with foreign authorities.
Ethical and Legal Considerations:
- Compliance with Privacy Laws: Able Legal Investigations must comply with laws such as the Fair Credit Reporting Act (FCRA) and anti-stalking laws when conducting asset searches.
- Subpoenas and Court Orders: In some cases, financial institutions and other entities will only release information with a court order or subpoena.
Conducting a thorough pre-litigation asset search as conducted by Able Legal Investigations, Inc. can give attorneys the leverage they need in settlement negotiations or ensure they are pursuing a case that is worth the effort. It also helps attorneys advise clients on the financial viability of moving forward with litigation