The commercials are everywhere - "Find unclaimed money now!" In many cases, the commercials on the radio and television are public service announcements from state treasury offices, designed to help people with unknown amounts of abandoned assets to claim their lost funds. States currently hold more than $10 billion in unclaimed inheritance and other monies, while the federal government has more than $22 billion in abandoned property. Learn how to conduct a free unclaimed inheritance searches for assets, money, stocks, property, and old accounts.
Free Unclaimed Inheritance Search
Heirs are people who are the rightful owner of bequeathed or inherited property from someone who has died. In many cases, unclaimed inheritance occurs when an heir doesn't know that he or she was named in a will. In other cases, an estate is closed out and the money from the estate is given to those who receive it, but some old accounts or lost bonds or stocks aren't found before the liquidation of the estate.
This abandoned property then is held by the state in which the money or property is located until an heir can conduct an unclaimed inheritance search. But how? By doing careful research, investigating every possible lead, and following various paths to information.
Find Lost Money, Assets, Cash, Bonds, and Stocks
The most comprehensive of the free unclaimed money search sites is Missing Money, a database that contains most of the states in the U.S., some territories, and a few Canadian provinces. Missing Money is relatively easy to use: type in the last name and first name of the person who died and might have left unclaimed assets. If the person's name and address match the unclaimed inheritance search, follow the directions for claiming accounts, stocks, bonds, money, or whatever is being held.
Missing Money currently includes the following areas:
Alabama, Alaska, Arizona, Colorado, District of Columbia, Florida, Idaho, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Puerto Rico, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin.
The Canadian province of Alberta is also included, and the site is run by the National Association of Unclaimed Property Administrators.
Another lost money site run by the same association is called Unclaimed. Unclaimed inheritances can be found at either site, and it is always a good idea to try every possible site found, from those advertised on television and radio to those in newspapers, magazines, and on the Internet. No database is perfect, and some smaller databases may have newer information.
Banks and stock companies hold on to lost stocks and lost assets for a set period and time and later turn that lost money or unclaimed property over to the state, so it can take years before unclaimed inheritances show up in some free unclaimed money search databases.
The need to check every possible source and site is critical for success. Watch for public service announcements, news coverage and promotions concerning free unclaimed inheritance search and take advantage of every lead. Successful heirs are reunited with lost assets only by researching every database.
Unclaimed Property and Heirs
Once lost stocks, unclaimed savings bonds, or other assets are located, the process for making a claim is different in each state or province. An heir needs to prove that he or she is a rightful heir and may need to provide the following:
- A death certificate for the deceased and some sort of proof of relation
- A signed document from the lawyer or executor who handled the deceased's estate
- Government-issued ID
In other words, the state treasury departments won't hand over unclaimed inheritances unless people can prove they are entitled to them, and that can involve re-opening a closed estate if need be.
Finding unclaimed property for heirs can be an exciting process, but one that needs to be navigated carefully. Attempting to claim property without following the right process can cause unneeded delay and tie up the lost money in red tape. Follow each state or province's process carefully and remember to look at multiple databases and websites to do a thorough search. You never know where the lost inheritance may be listed.
Related Articles
To learn more about finding lost money, please read:
Free Unclaimed Money Search - learn more about finding unclaimed money of any kind, in every part of the United States and some sections of Canada.
Unclaimed Washington State Funds - ever lived in Washington or had family live there? Learn how to find unclaimed property in this state.
Unclaimed Property in California - in the largest state in the country there are specific procedures for finding and claiming lost assets.
Melanie Zoltan - Melanie Zoltan is a former college professor and administrator who has written for About.com, PCWorld, Brain Child, Thomson Gale, and ...
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