Litigating a personal injury case is only half the battle in collecting compensation for damages. The other half is actually getting the defendant to pay the judgment awarded by the court. Therefore, before actually spending time and money suing someone, it’s a good idea to hire an attorney from a Lawyer in Manhattan KS office to determine if the defendant has enough cash and assets to pay a court award.
Types of Assets to Search For
When searching for assets, the net should be cast as wide as possible to uncover:
* Personal assets such as residential and commercial property, cars, boats, and airplanes
* Income from employment and/or a business
* Cash in bank accounts and safety deposit boxes
* Business assets such as equipment, inventory, and property
* Inheritances, trusts, or life insurance polices
* Lawsuit settlements or judgments in the person favor
* Hidden assets that may have been signed over to friends and family members placed in shell companies, or sent overseas
* How to Locate the Assets
Some information about the defendant’s assets may be publicly available. For instance, property records can be obtained from the local municipal office. It may be possible to get information about registered vehicles from the Department of Motor Vehicles. In some states, divorce and civil suit filings can be accessed by the general public and are often a good source of information about money or assets a person may have.
Other assets may be harder to find, especially if the person is purposefully concealing them. However, a little effort and detective work may uncover hidden cash and property. For example, doing a search of filings with the Secretary of State may expose shell companies the person is using to hold assets. UCC filings are another source of valuable information about a person’s business activities.
Taking a time to conduct a pre-litigation asset search can save a lot of headache and heartache later on. It’s a good idea to hire an attorney from a Lawyer Manhattan KS office to help with this task, since the lawyer can employ a variety of legal maneuvers to access information that may not available to unprivileged parties. For more information about pre-litigation asset searches, visit the Oleen Law Firm website at oleenlawfirm.com.
