Financial Asset Search for Pre-Litigation Legal Cases: Why It's Important

When you are considering taking legal action against someone, it is important to do everything you can to ensure a favorable outcome. One key factor in achieving a victory is knowing as much as possible about the opposing party. This includes their assets and financial situation. A company like Carl Mason P.I. can help you conduct a financial asset search for pre-litigation legal cases, so that you can make an informed decision about whether or not to pursue the claim.There are several reasons why asset searches are important in these types of cases. First, you need to be sure that the debtor has the ability to pay what is owed. If they do not have the assets to cover the amount, then it may not be worth pursuing legal action.Second, you need to know how much the debtor can pay if you win your case.Third, consider what the debtor has done with what is owed to you. Were new assets like real estate, cars, or tangibles recently purchased? Did the debtor recently take an exotic vacation with the entire family? Were other debts like mortgages or loans recently paid down?If the answer to any of these questions is yes, it could be an indication that the debtor plans on hiding assets in order to avoid paying what is owed.From experience in doing thousands of asset search cases, here is a top list of important information that is often discovered during an asset search:

• Accounts and cash amounts on hand.
• Brokerage accounts that are liquid (non-retirement and can be withdrawn now)
• Investments that are retirement
• Values of real estate homestead (primary residence)
• Real estate investment properties and potential income
• Income sources from employment and business ownership
• Potential hidden assets or collusion opportunities with others

Your attorney can help you with asset searches and also advise you on whether or not legal action is worth pursuing. Carl Mason P.I. offers asset search services that can provide you with the best information available.—This blog is intended to provide only a brief outline for our site visitors. You should always seek legal advise for your situation. Some of our posts are written by 3rd parties and may not reflect the position of Carl Mason P.I. and also may not be ideal guidance for your case. See our Terms and Conditions if you plan to hire Carl Mason P.I.