Unclaimed Assets of Deceased Individuals

When a person dies, their assets may not always be distributed to their intended beneficiaries. This can happen for a variety of reasons, such as:

• The deceased person did not have a will or other estate planning documents.
• The beneficiaries of the estate are unknown or cannot be located.
• The assets are simply forgotten about.

As a result, billions of dollars in assets are unclaimed each year. These assets can include bank accounts, stocks, bonds, insurance policies, and even real estate.

If you are a relative or friend of a deceased individual, you should be aware of the possibility that they may have left behind unclaimed assets. There are a few things you can do to search for these assets:

• Check with the state’s unclaimed property office. Every state has an unclaimed property office that is responsible for tracking down and returning unclaimed assets to their rightful owners. You can search for unclaimed assets by name or by the name of the deceased person’s former employer.
• Contact the deceased person’s bank, brokerage firm, and insurance company. These institutions may have records of unclaimed assets that belong to the deceased person.
• Search online databases. There are a number of online databases that can help you search for unclaimed assets. Some of these databases are free to use, while others charge a fee.

If you find unclaimed assets that belong to a deceased individual, you will need to file a claim with the appropriate agency. The process for filing a claim will vary depending on the state and the type of asset. However, in general, you will need to provide proof of your identity and relationship to the deceased person. You may also need to provide documentation that shows that the deceased person owned the asset.

Once you have filed a claim, the agency will investigate your claim and determine if you are the rightful owner of the asset. If your claim is approved, you will be paid the value of the asset.

It is important to note that the time limit for filing a claim for unclaimed assets varies from state to state. In some states, the time limit is as short as three years. In other states, the time limit is as long as 30 years. Therefore, it is important to file a claim as soon as possible after the death of the deceased person.

If you are aware of any unclaimed assets that belong to a deceased individual, you should encourage the rightful owners to file a claim. This will help to ensure that these assets are not lost forever.

Here are some additional tips for finding unclaimed assets of deceased individuals:

• Start your search early. The sooner you start searching, the more likely you are to find unclaimed assets.
• Be persistent. The process of finding unclaimed assets can be time-consuming and frustrating. However, it is important to be persistent and to keep searching until you have found all of the assets that belong to the deceased person.
• Use a professional. If you are unable to find unclaimed assets on your own, you may want to consider hiring a professional to help you. There are a number of companies that specialize in finding unclaimed assets.

Finding unclaimed assets of deceased individuals can be a complex process. However, it is important to remember that these assets belong to someone. By following these tips, you can help to ensure that these assets are returned to their rightful owners.