Sometimes it really helps to know how much someone is worth financially, that is, to conduct an asset search. Perhaps you are considering doing business with someone, or perhaps you are becoming romantically involved with him / her.

Whatever the reason, you’ll be happy to know that thanks to the Web, it’s now easier than ever to get an accurate indicator of someone’s net financial worth. Searching for assets is a somewhat complicated topic, but I can reach the high points in this short guide; however, you will learn enough to do informed research. If you want to go beyond what I tell you here, you will probably need a good private investigator, or perhaps if the stakes are high (as in a major court case) a forensic accountant.

First, let me emphasize that there is nothing unethical about conducting an asset investigation, as long as you follow the rules. You cannot, for example, use pretexts to determine how much money someone has in the bank or in a brokerage account (that is, disguise yourself over the phone as the account holder). This is illegal. It is important to respect your subject’s privacy and state and federal privacy laws, such as the Fair Credit Reporting Act.

Okay, so how do you conduct an asset search? Your first step is to positively identify your subject. Since you will be accessing public records and other database sources, it is vital that you know the basic identifiers of the person, that is, their name (with middle name or initial) and date of birth, at an absolute minimum. It is usually helpful to know the person’s social security number and address history (one or more of their old addresses).

Some sources of DOB are criminal and civil records (at the local county courthouse) and voter registration records (also at the courthouse). Sometimes you can get the information you need by making a courteous and patient call to the county clerk’s office. For a list of these offices nationwide with phone numbers and website addresses, try this site: [http://backgroundcheckgateway.com/statelist.html]

Note that many of these county sources can also be used to locate a social security number. However, if you know the person’s full name / address, date of birth, and one or two previous addresses, that’s enough to start your research. Another possibility is professional directories. For example, if your subject is a lawyer, doctor, or stockbroker, check out Printed Directories or Who’s Who, among many others, at your local library.

By the way, don’t bypass the old phone book for directions, or just call the directory information service.

Now, assuming you can definitely identify your subject via their name / address / date of birth / SSN, etc., what is the next step? Start by checking the basic sources, as follows:

Online sources: I suggest you try PRetrieve first. This site will provide the name, previous cities, and names of relatives for free, plus, for a fee, background information including property ownership, home equity, bankruptcies, lawsuits, etc. This site was recently purchased by Intelius, so if you prefer, you can go directly to the Intelius website.

Keep in mind that there are two basic types of assets, real assets (real estate, mainly) and financial assets (bank and brokerage accounts, etc.). The former are usually documented in public records and are relatively easy to find; the latter are not public records and generally cannot be legally located without a signed authorization from the subject or a subpoena. The only exception is if your subject has been involved in a court case, such as a divorce or bankruptcy. If so, you’re in luck, as these case submissions are public records. So one of the first things to check is the vital records in every county you know of where your subject has lived. If you want to hire someone to do it for you, try Intelius or US Search.com; its coverage is nationwide.

What about your subject’s occupational information? Determining where you work and what job or profession can be a real challenge, especially if the person is more or less a stranger to you. Of course, if you know the person, you probably also know if they are a lawyer, doctor, police officer, bartender, or whatever. So it’s just a matter of estimating what someone in that profession or occupation typically earns in their specific part of the country.

A good source for this is the US Department of Labor’s Area Wage Survey.You can also check out American Salaries and Wages, published by Gale Research, Inc.By the way, if you have no idea what the person does, this may be disclosed in your voter registration, available to most adults in the US County Courthouse, and this is public information. While you’re there, check criminal records, civil records, and traffic violations; all are also public records that can reveal the person’s occupation. Finally, you may want to call the Secretary of State in your state of residence and request a name search, to determine if he / she is a corporate or executive owner there.

Vehicles. Let’s face it, the make of car your subject drives speaks volumes. If you drive a Hyundai, that’s one thing. If it’s a Lexus or a Porsche, that’s another. Remember, in asset research, you will never know exactly what the financial value of your subject is. Your goal is to get a basis for making an informed guess, and if he / she owns a luxury car and also a big boat, you can bet that the person is doing quite well financially. To search for cars and boats, I suggest you use one of my recommended information brokers (see Section II, below), as they can do it almost instantly, and if you try to do it yourself, it could be a major hassle. As you do this, I suggest you also look for UCC Filings (financial instruments that describe collateral pledged) and Tax Liens and Bankruptcies (either of which is a strong indication of financial distress).

News sources. The WWW makes it so easy to search local newspapers that you could also run your subject’s name and see if there have been any articles on him / her. You may find that your topic has garnered news attention because you were promoted to vice president at a local company, or because you were sued for fraud or some other reason. It is definitely worth a try. Go to NewsLibrary.com, Newspapers.com, or a similar site to search.

Some tricks of the trade

In the remaining space, I will mention some of the insider tricks and nifty tricks that you should know about. Just by using the resources mentioned above, you can generally get a pretty good read on your subject’s financial situation. To dig even deeper, consider the following methods:

The pay. People who want to hide assets (for example, in divorce proceedings) sometimes pay home mortgages or other large bills; They can even hold funds in universal life insurance policies or annuities, collectibles, safes, or collectibles. Overpayments to the IRS are not unheard of! Some just go out and buy traveler’s checks or cashier’s checks and hide them under the mattress. Spotting hidden assets is an art unto itself, and if you suspect this may be the case, I suggest you hire a good CPA. with experience in this field (it’s called forensic accounting). You are not likely to discover hidden assets on your own.

Drive-By Residence. Simply stopping by your subject’s residence provides a quick and easy data collection method. Be aware of vehicles parked outside, occupational signs (ABC Computer Consultants, etc.), SALE sign, condition of home and grounds, utility shutdown notices, etc.

Diving in containers. I would never sink that low myself, of course, but you should know that one of PI’s favorite tricks is to steal your junk in front of your house and then go through it for bank statements, purchase orders, old bills, airline tickets to the Cayman Islands, phone bills, etc. This is legal as long as the garbage is on the street next to the curb.

Fake assets. Sometimes people claim to own stocks or securities that are not publicly traded. Some claim to own shares in limited partnerships that do not exist. In your investigation, keep in mind that all claimed assets are not necessarily real. If you suspect this situation, say, in the context of legal proceedings, then you are getting into deep financial waters (probably over your head) and I advise you to seek the expert help of a NASD (National Association of Securities Dealers). agent to review your subject’s financial statements.

Background players. If your subject is trying to hide assets, he will often put some or all of his possessions in the name of another person, usually in the name of the spouse. So for a full investigation, you should also look for the assets of the relatives, particularly the assets of the spouse. And note that he / she may have assets hidden under the name of non-relatives, such as associates, or may be manipulating assets through “love demands” (a trusted friend sues you and then delivers the proceeds of the lawsuit to him under the table).

As stated, this is a complicated topic and I have just touched on the main topics in this article. For a detailed treatment of the topic, I recommend Doing Financial Asset Research by Ronald L. Mendell, CLI, available through Amazon.