Don’t Leave Assets On The Table

Organizing, Planning, Wills and Trusts |

Do you have assets that your heirs won’t be able to find?

 

In the US alone, billions of dollars sit unclaimed in bank accounts, life insurance policies, pension funds, and state treasuries. Does any of this money belong to you?

It happens all too often. People simply forget about accounts or policies they may have started or they lose the paperwork, change jobs, get married, or move.  

Start at unclaimed.org, run by the Network of the National Association of State Treasurers,  to see if you have any money floating around out there waiting to be claimed.  Follow the links to your state to request any bank or brokerage accounts. 

Then, check usa.gov/unclaimed-money, which will guide you through looking for property and accounts in states where you have lived.  

For help recovering retirement accounts and pensions, check first with your former employer to find the current administrator.  If the company has out of business and you cannot connect with an HR person, start with pensionrights.org.

Have you paid thousands of dollars over the years for a life insurance policy that your family doesn’t know about?  Although many states are now adopting requirements for these companies to check the death records, you can’t actually count on them to do this promptly or to find the heirs. Life insurance companies don’t know right away when someone dies. Ideally, the beneficiary will contact the insurance company, furnish a death certificate, and file a claim so that the company can guarantee that the person who died is the actual insured.  

Will and a Way guides you through the process of listing all of your assets, including insurance policies, in one place. You’ll be prompted to make updates regularly, at least once a year.  

 

What does peace of mind cost?  Turns out, not much – it can be had for $40 a year at www.willandaway.com. Create an account today and give your personal agent the log in information if and when they need it for your benefit.

Information shared here is not to be taken as legal or financial advice. Suggestions and resources are presented for your consideration and may or may not apply to your personal situation. Please consult your advisers.

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