Due Diligence and Conducting an Asset Search; Attorney’s beware.
Any attorney that handles personal injury cases will be the first to tell you how important it is to conduct an asset search before settling a case for the insured’s policy limits, especially when the damages or injuries to the client exceed that amount. If the attorney fails to conduct the asset search on behalf of their client or fails to at least ask the client if they are willing to pay to conduct the asset search, the attorney or law firm could be on the hook if the client discovers additional assets that their attorney could have or should have attached in addition to any recover from an insurance company that was obtained, to “fully” make their client whole.
For as little as $ 185.00 per individual, an attorney can order an asset search online and receive the results in one to two business days by email. All that is needed to conduct an asset search is the subject’s name and last known address. The asset search reports will deliver a treasure trove of information on the subject searched, including, but not limited to, any real estate that the subject may own or recently transferred, mortgage information, boats, aircraft, motor vehicles, patents, professional licenses, trusts, liens, bankruptcies, other lawsuits involving that subject, criminal records, sexual offender information and any associated businesses with the subject, and more.
If the subject owns a business or trust or other corporate entity, a business asset search can also be conducted to identify assets held under the name of the business on behalf of the subject. The average cost for a business asset search is $ 165.00. All that is needed to conduct the business asset search is the name of the business and last known address of the subject or city and state of the business. Again, the results of the search are returned in a few days.
To find out more information about how you can conduct an asset search today, please visit our website at www.assetsearchesplus.com or download our ebook entitled “ Guide to Conducting Asset Searches,” by clicking here.