Flamboyant politicians are particularly vulnerable to legal attacks. Checking with government agencies could easily unearth the full extent of their estate. Some high public officials have no choice but to disclose the full extent of their estate because they are required by law (R.A. No. 6713) to file their statement of assets and liabilities with the Office of the Ombudsman. The rich and the landed gentry are attractive defendants, just like big companies and corporations that are publicly listed in the stock market. Many people are subliminally drawn by the temptation of big game hunting. Most attorneys will refrain from filing a lawsuit once they receive reliable information that the defendant does not have any capacity to pay the judgment. Some filthy rich individuals prefer a low-key lifestyle so as not to attract attention and envy. The profligate rich often maintain homes and investments abroad just in case anything disastrous happens at home. The middle class property owners are the ones left vulnerable to the vestiges of hard economic times.

The French word for “asset” means “sufficient;” it originally signified a sufficiency of property to pay debts, claims, liabilities and expenses. In its common and ordinary acceptance, “asset” means property owned or property rights. It also means something over which a man has dominion, can transfer and which may be reached by the execution process. The term “property” came from the Latin word propriety meaning belonging to one. In the strict legal sense, the word property signifies valuable rights or interests protected by law. We tend to acquire things as we go through life. Before you know it, you have built a mountain of stuff ranging from trinkets and writing instruments going all the way to palatial homes and luxury vehicles.