Unclaimed inheritance money is one source of unclaimed money that is often overlooked. Unclaimed money has become an increasing issue the state and federal governments have been facing the past few years. Most Americans are unaware that they are able to search for and claim the money of lost relatives, however, few have become instant millionaires from claiming their deceased relatives’ unclaimed money.
There are many ways money can become unclaimed. As much as these ways contribute to unclaimed money belonged to any one, they can also account for unclaimed inheritance funds from deceased relatives. Some of the most common forms of unclaimed money are: unclaimed bank accounts, unclaimed utility or apartment deposits, un-cashed paychecks, and unclaimed safety deposit boxes.
One would search for unclaimed inheritance money just as they would searching for their own unclaimed money. The first step is to list all possible states of residence of the lost relative. This will help narrow down the list of all possible states to search for unclaimed money. However, it will be more accurate and successful if searches are conducted for all states. It is possible to have unclaimed money in one state that was never one of residence.
After this list has been compiled, the next step is to log on to the various state and federal unclaimed money search websites. These websites will allow free unclaimed money searches, where you will be able to search for your deceased relative. These state and federal unclaimed money websites also provide useful tips and information to aid in the claim process.
Once unclaimed inheritance money has been identified in various federal and state accounts, its time to claim it! The state and federal websites will provide the proper forms to use for claiming this money. Since it is unclaimed money belonging to relatives, proper documentation will be needed for the claim process.
It’s a fact that 8 out of 9 American’s have unclaimed money in their name, and almost every family has some type of unclaimed inheritance money waiting to be claimed by a relative. Most states and the federal government has been hard at work trying to spread the word about unclaimed money, however they have proven unsuccessful based on the large, growing amounts lying in the state treasuries. The challenge to notify the public on unclaimed money, which has made spreading the word on unclaimed inheritance money non-existent.
Claiming unclaimed inheritance money is just as simple as claiming your own unclaimed money. Aside from the tools accessible on the state and federal unclaimed money websites, many public companies have stated unclaimed money searches. These searches generally allow access to all state and federal databases at once, saving a lot of search time.
Almost all Americans have some form of unclaimed money, along with most deceased relatives have money still in their name. It is not uncommon to search and claim unclaimed inheritance money!