Asset searches are among the many services we provide to residents in Colorado. With little information about asset searches, it can be confusing on why one should use a search. There are many situations that can call for action in the form of an asset search or what is allowed to you legally. Roland Investigations has over 85 years of experience that we want to share with you to enable your right to exercise this type of search.
One of the most common reasons you would get an asset search done is when there is a lawsuit for personal injury due to an accident of the sort, such as a car accident. In most cases, personal injury attorneys will perform an asset search on the defendant on the outset to know the whole picture of the situation at hand. In doing so, they know that the defendant’s insurance won’t cover the cost of the damages that were incurred. After this has been done there must be a decision made to the part of the attorney and client as to what should be the next step. Such information obligates one to decide if they will go after their assets or not.
One might be wondering how they would know if they are able to get more than what the defendant’s insurance company has paid out. Such information legally must be disclosed to the client. If this isn’t done, then there are grounds for malpractice. They are under obligation to inform you of the truth of the situation. In which you’ll know whether you can go forward with an asset search.
Another situation where asset searches are common is when one files for divorce. There are many steps in the process of divorce but one of the many important ones is the fact that you must disclose all income, debts, and assets. An asset search is done by many divorce attorneys to verify that the statement that was submitted was, in fact, true to what was stated. This is also a tool that helps the spouse be truthful in their disclosure statement.
If you’re worried that your spouse is hiding some assets, then it may well be advantageous to do an asset search both before and after filing for divorce to see if there is the reason to prosecute. However just because you can doesn’t mean that you should. When deciding if you’re going to form a lawsuit because of hidden assets you want to make sure that its worth your while. If you don’t, then you’ll put yourself in a tougher situation. At times it may be the fact that the liabilities outweigh the assets, or the cost of the lawsuit will outweigh the assets. Either way, it is important to do your due diligence with an asset search to find out what their assets are and what their liabilities are before making the decision to litigate a lawsuit.
Roland Investigations can help you when you’re in need of an asset search. No matter what situation you’re in, we are here to help you find out the important things you need to know. Here at Roland Investigations we provide you with more than just asset searches, we also provide you with document research, process of service, skip tracing and more! Call us today about your specific needs.