A trip to the Registry of Deed and the Assessors Office is not an Asset Search Many of the on line services use a single source to gather their data and re sell it to you.
This is a big mistake.
There are many sources that provide the raw data behind the report.
Each has strengths and weakness.
Only the process of knowing each and the cross checking of multiple sources will provide you with the most accurate information.
This requires knowledge and experience and human intervention to do correctly.
You get what you pay for.
WHAT SHOULD BE IN THE REPORT? An Asset Profile should accomplish several things:
A thorough asset profile will look at tangible assets, but do not forget things like intellectual property and other items that might be indicators of substantial disposable income: the second home, or the sailboat.
A check of the US Tax Court docket may reveal interesting records and access to Tax Returns.
HIDING ASSETS There are ways to hide assets, among them are: · Prepaid Credit Cards.
· Pre paid life insurance policies.
· Over payments on mortgages or credit cards.
· Convert cash to postal money orders or travelers checks and hold onto them.
· Transfer assets to a relative.
·Trusts EXPLORING THE BUSINESS A secretary often signs checks for an employer, they can therefore be held liable for the illegal activities perpetrated through the use of those checks, (according to IRS and tax court decisions).
He/she may have kept personal records.
Notary Logs, schedules, appointments, Rolodex etc.
that can be secured and examined by subpoena.
Information related to banking and financial relationships can only be gathered and used in accordance with the FCRA and other applicable laws, such as the Gramm-Leach-Bliley Act.
No pretexts can be used to gather this information.
Neighborhood demographics are often valuable in determining the character of the area in which the subject lives or owns property, as well as information on median income in the area.
This helps to present an overall picture.
A surveillance and photography can document the type of property and its curtilage and may reveal things not found in record research.
In addition to examining a credit card statement, which can reveal disposable income, attorneys should look into the purchase of cashiers checks, money orders or traveler's checks, negotiable instruments that are also frequently used to launder money.
WHO CAN DO THIS FOR YOU? I use NH for an example.
How does one locate, and evaluate, a competent, and experienced, investigator to help you do these things? What are the criteria? A telephone book ad or a web site is no guarantee that the person is licensed, or has the qualifications that meet your needs.
A license is required to perform services described in RSA 106-f: 4.
Ask a professional colleague for a referral.
Ask questions, request documentation, and references.
Ask for a copy of the investigator's license.
New Hampshire law requires that all investigators post a $50,000.
00 bond.
It protects both the investigator, and the client.
It is one of the marks of the serious professional.
Ask for, and contact, professional references.
Another consideration is his/her commitment to excellence, ongoing training, and professional standards.
The Hallmark of the professional investigator is his/her membership in the New Hampshire League of Investigators.
The League is the only professional association of investigators in New Hampshire.
This is a big mistake.
There are many sources that provide the raw data behind the report.
Each has strengths and weakness.
Only the process of knowing each and the cross checking of multiple sources will provide you with the most accurate information.
This requires knowledge and experience and human intervention to do correctly.
You get what you pay for.
WHAT SHOULD BE IN THE REPORT? An Asset Profile should accomplish several things:
- Paint an overall picture of the subject's probable financial status and lifestyle.
- Locate and identify specific assets.
- Locate financial relationships, where the subpoena process can be used to gather specific details such as bank accounts and balances
- Identify adverse financial filings; Liens, judgments and bankruptcies.
- Explain other options for the attorney to explore during the deposition and discovery process.
- Unclaimed property.
- Unclaimed bank accounts.
- Unclaimed tax refunds and unclaimed pension funds.
- information suggesting disposable income.
A thorough asset profile will look at tangible assets, but do not forget things like intellectual property and other items that might be indicators of substantial disposable income: the second home, or the sailboat.
A check of the US Tax Court docket may reveal interesting records and access to Tax Returns.
HIDING ASSETS There are ways to hide assets, among them are: · Prepaid Credit Cards.
· Pre paid life insurance policies.
· Over payments on mortgages or credit cards.
· Convert cash to postal money orders or travelers checks and hold onto them.
· Transfer assets to a relative.
·Trusts EXPLORING THE BUSINESS A secretary often signs checks for an employer, they can therefore be held liable for the illegal activities perpetrated through the use of those checks, (according to IRS and tax court decisions).
He/she may have kept personal records.
Notary Logs, schedules, appointments, Rolodex etc.
that can be secured and examined by subpoena.
Information related to banking and financial relationships can only be gathered and used in accordance with the FCRA and other applicable laws, such as the Gramm-Leach-Bliley Act.
No pretexts can be used to gather this information.
Neighborhood demographics are often valuable in determining the character of the area in which the subject lives or owns property, as well as information on median income in the area.
This helps to present an overall picture.
A surveillance and photography can document the type of property and its curtilage and may reveal things not found in record research.
In addition to examining a credit card statement, which can reveal disposable income, attorneys should look into the purchase of cashiers checks, money orders or traveler's checks, negotiable instruments that are also frequently used to launder money.
WHO CAN DO THIS FOR YOU? I use NH for an example.
How does one locate, and evaluate, a competent, and experienced, investigator to help you do these things? What are the criteria? A telephone book ad or a web site is no guarantee that the person is licensed, or has the qualifications that meet your needs.
A license is required to perform services described in RSA 106-f: 4.
Ask a professional colleague for a referral.
Ask questions, request documentation, and references.
Ask for a copy of the investigator's license.
New Hampshire law requires that all investigators post a $50,000.
00 bond.
It protects both the investigator, and the client.
It is one of the marks of the serious professional.
Ask for, and contact, professional references.
Another consideration is his/her commitment to excellence, ongoing training, and professional standards.
The Hallmark of the professional investigator is his/her membership in the New Hampshire League of Investigators.
The League is the only professional association of investigators in New Hampshire.