Assets can be hidden in almost any manner, subject only to the creativity of the owner. Some people tie up assets in their business or form hidden corporations or LLCs. Other individuals have offshore bank accounts where they channel their assets. Even paying extra to creditors can be a way to hide assets. In other situations, a person may spend a lot of money in an attempt to get rid of it and to convert it to other property. This may be the case when purchasing expensive homes, vehicles, boats, aircraft, other recreational vehicles, expensive paintings, collectibles, forming collections, jewelry and other luxury items. When these types of purchases are made, the owner may convert cash into this expensive asset and then under-report its value on legal forms, tax returns or corporate documents. In other situations, people may have assets that are not as flashy, such as in retirement accounts, stocks, bonds, annuities, life insurance policies or safe deposit boxes.
Sometimes hidden assets are in the form of assets that have not yet been received. These may include stock options, a delayed bonus or a raise. A divorcing spouse may try to defer these assets until after the divorce is complete so that he or she won’t have to split it with the other spouse. He or she may delay signing a new business contract for the same purpose. In other situations, people may pocket the cash that they earn from a business or self-employment and then underreport their income for support obligations or creditor issues.
Some forms of hidden assets involve third parties, either knowingly or unknowingly. Some people may hide assets in their children’s names, such as setting up a custodial account. In other situations, a spouse may claim to have a phony debt with a friend and then pay it off only to retrieve the money later. A business may give a salary to a fictitious person that is later claimed by the spouse or debtor. A person may hide assets in a storage unit, at a friend’s house or with a family member. If a spouse is cheating, he or she may be buying assets for that person, such as an apartment, designer clothing, jewelry or direct cash.
Aim of Locating Hidden Assets
There are many reasons why we carry out our forensic hidden assets location services, but few would be listed below:
If you’re trying to recover payments for child support that is owed by your spouse, our investigators will help you track down hidden accounts, safety deposit boxes, and assets (business or personal) that were not disclosed in the past.
If you have won a civil judgment and the defendant of your case has not payed the required amounts, we will track down their assets to help you prepare a case against them in court with your attorney.
If you are owed money – personal or business – we will help you track down assets so you can recover on the delinquent debts.
An asset investigation will help ensure you have a fair division of assets as you go through a divorce. Often times, we have found that spouses “hide” assets from their future ex-partner in order to prevent the other party from taking part of the asset.
Whether you’re looking to acquire a company or merge with a company, our investigative team can help you find and track down all assets related to the merger/acquisition to ensure you are paying a fair price for the business.
- Property Asset
- Automobile / Aircraft / Watercraft
- IRAs and Retirement Accounts
- Trusts & Funds
- Liens / Bankruptcies / Judgments
- Corporate Bank Accounts
- UCC Financial Statements
- Business Entities
- Lots & Buildings
- Vehicles & Equipment
How to locate Hidden Assets
Private investigators can conduct a full and thorough investigation to help locate such hidden assets. Additionally, they may prepare a report and provide testimony in court regarding these assets so that the court is aware of any alleged misconduct involving hidden assets.
Private investigators have access to databases that help them track down assets. They may also sift through public records regarding property filings, tax returns and related documents. Additionally, private investigators may conduct surveillance on a spouse to see if he or she is heading to an unreported location or colluding with others to hide assets. Private investigators may also be able to cross reference names, address and other information to identify patterns and possible locations that may reveal hidden assets. They may also be able to analyze property owned by the target such as a computer and track the person’s online movements
If you are auditing a person or a company, conducting due diligence prior to a business deal, in the midst of a bankruptcy or divorce proceeding, or calculating child support, then you may need a Hidden Asset Investigation. If your identity has been stolen and you fear that the thief has been using your name to conduct business or purchase assets, you may also require our services. In the event of the sudden death or incapacitation of a family member, it would be wise to find out exactly what that person possesses if there is no written will for guidance. The RIC Investigators are experts in finding information that does not want to be found. We have the network and the know-how to discover even the best-kept secrets or the deepest buried forgotten records, and we will work discreetly and confidentially while we search. Our results are professional, accurate, and reliable.
When selecting a firm to locate hidden assets for the enforcement of a judgment collection of a debt, to verify assets for a divorce and child support matter or to investigate assets for a probate and estate matter, look no further that the staff at RCI.