Hypothetical: Say I am trying to collect a significant debt from a high net worth individual. I need to know the value and location of his attachable assets. I have reason to believe this individual has ownership interests in private companies, a real estate portfolio, investment accounts, trusts, etc. However, discovery into the value and location of these assets has been stymied by a lack of candor by the debtor. It's difficult to prove there is more out there than what has been disclosed when the person who knows the truth isn't telling it.

What would be the simplest and most comprehensive place or method to find out his complete holdings? Go to his accountant? Investment advisor? A statement of assets? What should be asked and who should be asked for it?

Hire a forensic accountant or a PI.

A legal deposition.

OldArmyCT said:

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A legal deposition.

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That still requires either the debtor to be candid or having ammunition to show he is lying to be useful. If he is willing to lie in deposition, but don't have a way to prove he is lying, then its not all that helpful.

Cincinnatus said:

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Hypothetical: Say I am trying to collect a significant debt from a high net worth individual. I need to know the value and location of his attachable assets. I have reason to believe this individual has ownership interests in private companies, a real estate portfolio, investment accounts, trusts, etc. However, discovery into the value and location of these assets has been stymied by a lack of candor by the debtor. It's difficult to prove there is more out there than what has been disclosed when the person who knows the truth isn't telling it.

What would be the simplest and most comprehensive place or method to find out his complete holdings? Go to his accountant? Investment advisor? A statement of assets? What should be asked and who should be asked for it?

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Why would his accountant or investment advisor give you anything? They won't and can't. A statement of assets would likely be informative but where would you get that? The individual obviously won't provide it and the only other place it might be on file is with a bank or other lender and they are not going to give it to you either.

Cincinnatus said:

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OldArmyCT said:

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A legal deposition.

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That still requires either the debtor to be candid or having ammunition to show he is lying to be useful. If he is willing to lie in deposition, but don't have a way to prove he is lying, then its not all that helpful.

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If he lies in the deposition that could help you if it goes to trial. I think you are going to have to sue him and start the legal process going if you really want to get anywhere.

Short/easiest answer is PI. DM me and I'd be happy to talk you through some of it. I do this kind of thing in my work.

File a lien to get your money. Doesn't matter how much assets he has. Say he has 10 million in cash on an account. So what if you know? You can't force him to pay it just because you are aware of it.

Yeah you're ultimately going to have to sue him unfortunately. Liens only work in limited situations. And you still have to sue to enforce. Then if you win the lawsuit, you get a judgment, which is just a piece of paper. Then can commence collection/enforcement, which can be very difficult in its own right.

A divorce is different but also the same in that asset discovery can sometimes be a problem. A girl I know divorced her philandering airline pilot husband who not only tried to hide assets but also girlfriends. Her lawyer did some minor investigating then threatened him in the deposition with perjury, he suddenly uncovered an rxtras $1mm+ and listed 8 women. It made asset distribution way easier, for the wife.
Now, attorneys, you get what you pay for.

Outdoors Board can find out probably by end of today.