Wednesday, March 24, 2010

Why Should an Attorney Conduct an Asset Search?

Check out our recent article, "Why Should an Attorney Conduct an Asset Search?", which explains the benefits of offering asset searches to your clients. You can also view this article directly on our website,
Why Should an Attorney Conduct an Asset Search?

If used properly and if conducted by a reputable Asset Search Company, asset searches can be used as a valuable tool in both pre and post litigation. Often is the case when a personal injury attorney has a client with severe injuries and an insurance policy with inadequate coverage. The question then becomes whether to settle a case for the policy limits or seek additional assets to satisfy a judgment. Moreover, what duty does the attorney have to his client to inform them that they may be entitled to more than just the insurance coverage? Also, what happens to the attorney who fails to inform the client that they could have conducted an asset search to uncover assets to attach and possibly satisfy a judgment to make the client whole?

Most asset searches cost less than $300.00. At , for example, a nationwide asset search costs $165.00 for an individual subject and $150.00 for a corporate entity. At the very least, shouldn't the client be given the opportunity to pay for and conduct a search just in case there are additional assets associated with the subject or the defendant? If the client refuses, the attorney is protected. If the client agrees to conduct the search, then the attorney has satisfied their "due diligence" by conducting a nationwide asset search, which may very well reveal additional assets that can be attached. In addition, where the subject may be concealing assets, such as through family trusts, partnerships or the like, the asset search report will provide a road map for the attorney.Continue Reading»


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