Summary
Every year, billions of dollars in unclaimed inheritances remain unclaimed across the United States. If you’re wondering whether you’re entitled to a portion of these assets, this guide will help you understand how to search for and claim unclaimed inheritance funds. We’ll cover the steps to take, common challenges, and resources to assist you in navigating the process.
- Search state unclaimed property databases at Unclaimed.org.
- Use MissingMoney.com for multi-state searches.
- Gather necessary documentation: proof of identity, relationship to the deceased, and legal entitlement.
- Be aware of state-specific laws and deadlines for claiming unclaimed property.
- Consider consulting with a probate attorney for complex cases.
Overview
Unclaimed inheritances occur when assets from a deceased individual’s estate are not claimed by rightful heirs. These assets can include bank accounts, insurance policies, stocks, and other valuables. In the U.S., unclaimed property laws vary by state, but generally, if assets remain unclaimed for a certain period, they are transferred to the state’s unclaimed property office. However, rightful heirs can still claim these assets by following the appropriate procedures.
Common Challenges
- Unawareness: Heirs may not know they are entitled to an inheritance.
- Incomplete Records: Lack of documentation can hinder the claim process.
- State Variations: Different states have varying laws and procedures for claiming unclaimed property.
- Time Limits: Some states have statutes of limitations for claiming unclaimed assets.
Step-by-Step Process
1. Search for Unclaimed Property
Start by searching your state’s unclaimed property database. The National Association of Unclaimed Property Administrators (NAUPA) provides a centralized search tool at Unclaimed.org. For a broader search across multiple states, use MissingMoney.com.
2. Verify Your Entitlement
Once you’ve identified potential unclaimed assets, you’ll need to prove your right to claim them. This typically involves providing:
- Proof of identity (e.g., driver’s license, Social Security number).
- Documentation of your relationship to the deceased (e.g., birth certificate, marriage certificate).
- Legal documents such as wills or probate court orders.
3. Submit a Claim
Follow your state’s specific procedures for submitting a claim. This usually involves completing a claim form and submitting the required documentation. Some states allow online submissions, while others may require mail-in forms.
4. Follow Up
After submitting your claim, monitor its status. Processing times can vary, so be patient and stay in contact with the state’s unclaimed property office if necessary.
FAQs
How can I find out if I’m entitled to an unclaimed inheritance?
Search state unclaimed property databases using your name and any known aliases. If you suspect a relative left you an inheritance, check the states where they lived or held assets.
Is there a time limit to claim unclaimed inheritance?
Time limits vary by state. Some states hold unclaimed property indefinitely, while others have statutes of limitations. Check with your state’s unclaimed property office for specific information.
Do I need a lawyer to claim unclaimed inheritance?
While not always necessary, consulting a probate attorney can be beneficial, especially for complex cases or large estates.
Can I claim unclaimed property from another state?
Yes, you can claim unclaimed property from any state where the assets are held, provided you can prove your entitlement.
Are there fees associated with claiming unclaimed inheritance?
State unclaimed property offices typically do not charge fees to claim assets. Be cautious of third-party services that charge for assistance.
Expert Tips
- Regularly check unclaimed property databases, especially if you’ve moved or had relatives pass away.
- Keep personal records organized to facilitate the claim process.
- Be cautious of scams; only use official state websites for searches and claims.
- Consider setting up a will or trust to ensure your assets are properly distributed after your passing.