Asset Search Attorney Tracks Down Missing Property
Experienced New York lawyer helps victims of fraud recover what they’re owed
It’s tough to prove in court that you’ve been cheated if you can’t point to the property that was taken. This situation comes up often in high net worth divorces where Spouse A hides assets that Spouse B never knew they owned. Spouse B might be entitled to some or all of that item’s value, but only if it can be found. That’s where Fred L. Abrams Attorney at Law can help. Our firm focuses on asset search and recovery for a variety of situations, including divorce. If you suspect someone is hiding an asset that you have a rightful claim to, we’re ready to help.
When do you need an asset search attorney?
There are many situations in which you might want to know if a particular person was hiding assets. These include:
- Divorce — Spouses often try to hide assets that would be considered marital property, so they are not included within the marital estate and are subject to equitable distribution or community property laws.
- Unpaid judgments — When you are entitled to damages, the defendant’s insurance company might offer you a settlement that exhausts coverage but does not cover your losses. In that case, you want to know if there are additional assets you might attach in a lawsuit to satisfy your claim. Likewise, if you have won a judgment in court, but the defendant fails to pay, we will take assertive action to determine if there are assets available to make you whole.
- Fiduciary malfeasance — If you are an officer of a corporation or the beneficiary of a trust, you might have reason to suspect that a fiduciary, such as a trustee or fellow corporation officer, has misappropriated property for their personal use.
- Bankruptcy — Creditors in a business or personal bankruptcy cases might have reason to believe that the debtor has omitted items from what they’ve told the court they own, or transferred assets fraudulently in anticipation of their bankruptcy filing.
- Probate — When a loved one dies, but their affairs are not in order, you might not be sure their estate is fully accounted for. An asset search could discover property, such as real estate or bank accounts, that you didn’t know existed.
Don’t allow yourself to be defrauded. Our firm can investigate and provide the crucial information you need going forward.
How do people usually hide assets?
People who deliberately hide assets use various strategies, including:
- Off-shore bank accounts — Placing money outside the United States makes it more difficult to trace and attach through legal processes.
- Shell companies — Incorporating a company that does nothing but hold the property creates a legal fiction that the newly-established entity owns the assets.
- Fraudulent transfers — It can be unlawful to sell an asset for below market value to a relative or close associate with an agreement to transfer the property back after the threat of losing it has passed.
- Underreported income — People who own cash-heavy businesses can do business under the table to reduce their reported income, their taxes, and their exposure to claimants.
Our team uses the discovery process to compel production of documents that create a paper trail for missing assets. Once we establish that an asset exists, Fred Abrams is an asset recovery lawyer who can advise you on the process for staking your claim to the property.
Contact an accomplished New York asset search attorney today
From our office in New York, Fred L. Abrams Attorney at Law focuses solely on asset search and recovery matters throughout the United States and in other countries. To schedule a meeting, call 800-986-1497 or contact us online.