What Happens to Unclaimed Money If No One Claims It?
- Author: Bryan Miller
- Posted: 2023-05-25
A family member can claim unclaimed money if they are the beneficiary of a deceased relative. This includes money from life insurance policies, retirement accounts, safe deposit box contents, securities, utility deposits, and more. To qualify for the inheritance, the claimant must present a certified death certificate and any documents proving their relationship to the deceased. In some cases, the inheritance may go to the state, which is why it is crucial to file a claim as soon as possible.
If you have unclaimed property, you can find it with the assistance of an unclaimed money recovery agency. These companies handle unclaimed property on a commission basis. The best way to avoid claiming unclaimed money is to cash checks and use gift cards right away, as well as to regularly check your account annually to ensure you are not missing anything.