How to Locate a Deceased Person's Assets
One of the tasks that many private investigators get inquiries about is asset location. Not everybody leaves behind a will when they die. Sometimes, death can be quite sudden. Depending on how they handled their assets, there may be assets that can't be accounted for.
For the family of the deceased, this gives them the task of tracing assets the deceased owned at the time of their death. Asset tracing can be straightforward for some people, however, many families need private investigators' assistance to find assets of deceased family members.
How Is Locating A Deceased Person's Assets Different From Locating The Assets Of A Person Who's Alive For Private Investigators?
A person's death can make the process of asset tracing either easier or harder for the family or private investigator doing the tracing.
Some of the differences that might be experienced when tracing assets under these conditions include:
- Tracing assets can be harder since there are no fresh clues for the private investigator to follow, and surveillance is also not an option.
- If the deceased was secretive, they may have taken steps to keep assets hidden which calls for more work by the private detective.
- A person who is alive may be intentionally making their assets difficult to locate e.g. in a divorce. Therefore, it might be easier for investigators to trace the assets after their death.
Because death is almost always likely to make it harder to perform asset location, it's important to have a private investigator who is very good at this kind of work.
Why Would You Need A Private Investigator To Locate The Assets Of A Deceased Person?
There are several good reasons to request asset location services from a private investigator if the owner of the assets is dead. These include:
- The deceased was a relative and you have a major claim to their assets
- You're entitled to a share of the assets and you suspect some of the deceased's relatives are keeping some assets hidden.
- You're the executor of the estate and you wish to begin the process of asset distribution (beginning the process requires a proper valuation of the assets and debts and also the submission of the relevant inheritance tax documents).
- The deceased owed you a significant amount of money at the time of their death and you wish to be repaid from their assets.
- You were in business with the deceased and some of your assets are tied to the assets that you need the private investigator to locate etc.
What Types Of Assets Can You Ask A Private Investigator To Locate?
Private investigators are asked for asset tracing services for many different things after a person's death. Some private investigators may specialize in locating only certain types of assets while others may have the skills and resources to locate a wide range of assets.
Assets that are usually located by private detectives include:
- Personal and commercial property in the UK
- Overseas properties
- Investments - stocks, certificates of deposit, money market accounts
- Cars, boats and planes
- Pension schemes
- Insurance policies
- Shares in companies etc.
There are assets that may not be traceable through a private investigator due to legal restrictions e.g. bank account information. In the UK, such information may only be availed to those with genuine claims to the money in the accounts e.g. family members.