Asset Lifecycle

Assets forfeited as part of the AFP are managed by the USMS in a lifecycle beginning pre-seizure planning through to taking custody and the subsequent management and tracking of the assets until they are disposed of. Management and disposal of assets is carefully considered so as to be most efficient, and the related costs are considered even before the decision to size an asset is made.

The asset lifecycle involves four main phases: pre-seizure, custody, management, and disposal.

1. Pre-seizure: The pre-seizure process begins with consideration of the entire asset lifecyle, with the goal of avoiding potential obstacles and disposal challenges. Pre-seizure planning may not occur in all situations for all asset types. For instance, the forfeiture of a single car would not usually include pre-seizure planning, while the seizure of an impound lot with 50 cars would definitely require thorough pre-seizure planning.
2. Custody: The custody phase describes the process of taking possession of or assuming responsibility for an asset. It involves a considerable amount of documentation, including assessment of value.
3. Management: The management phase spans the time that an asset is taken into custody until its disposal, with a focus on preserving the asset’s value and condition as much as possible.
4. Disposal: Disposal involves executing the court’s decision on matters affecting an asset, and includes a number of outcomes. The asset may be returned, sold, destroyed, placed into official use, or donated, among other options.