The top 7 questions and answers about unclaimed money




1) Can I make a claim on the assets of relatives?

Yes. If you are the heir or executor of the estate you can, at any time, make a claim for assets left by the deceased.

2) Is there an expiration date for claims?

No. The state will guarantee the assets to be available at any time regardless of how much time has passed. Some assets currently being held date as far back as the Civil War and they are still available if an heir can be found.

3) Do I need to use a professional service to make a claim?

No. Finding unclaimed property is actually pretty easy and quite enjoyable. Once found you just file a claim form with the state and wait for the response.

4) Is there a downside to finding unclaimed money or property?

Maybe. If you find a sizeable amount of cash you will probably want to speak with your tax person before you agree to accept the claim. A little professional advice from a qualified tax person will go a long way towards making good decisions when it comes to a large claim.

5) Does it cost any money to find unclaimed money or property or to file a claim for the same?

No. Searching for unclaimed money or property is free and filing a claim for it is also free.

6) How often should a search be done?

Probably every year to two years. If there is a death in the family you will want to spend a little time searching for assets of that individual for closure on their accounts.

7) What about websites that charge you to search national databases?

We don't recommend them. We provide a complete list of all states that offer free searches on their websites. The information is exactly the same so why pay?

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