Unclaimed money can be claimed from owners who might be deceased relatives. According to unclaimed money laws and a recent statement from the U.S. Supreme Court (Texas vs. New Jersey, 379 US 674, 1965), the unclaimed property is returned to the state of the property owner's last known address. If the address cannot be found, then it is returned to the state in which the business holding the funds is incorporated. At this stage, it is the responsibility of the unclaimed property office to find the rightful owners. The reassuring part of this process is that the unclaimed money for a dead relative can be claimed without any fear of the time limit; there is no time limit on claiming your property.
If you are on a mission to claim unclaimed money or any unclaimed money owed to your relative, then the following checklist might be a great way to kick-off the campaign. The following information being sought from the office of unclaimed property:
- Name of the relative/predecessor (including maiden or former names)
- Their Social Security number, current address
- All previous addresses where she/he lived while in the state
- They will want the same information about any other individual for whom you're the legal beneficiary
The credit goes to the Social Security Administration which keeps tracks of all the personal and professional details of a person from life to death. This information helps the authorities in charge of the unclaimed funds, as they have the accurate data in front of them which they can utilize to cross-check the information that you have provided for your relative.
The government at both the federal and state levels is determined to return the unclaimed funds to the rightful owners, and they are leaving no stone unturned to locate the actual owners of these unclaimed assets. If you are trying to find unclaimed property, now is the best time to do that. It has to be understood that the unclaimed assets are in safe hands and can be claimed at any point of time.
As compared to the earlier years, both federal and state governments have simplified the claim process to a great extent. So, if you are looking for unclaimed money for which you are the rightful heir/owner, it makes practical sense to take all the help from the government machinery. At the present moment, every media avenue is being tapped by the state and federal agencies, and they have shown the proactive stance towards providing all the logistical and information-based help to the claimants. If somebody is looking for a heir unclaimed money or relative unclaimed money, then the best process is prescribed by the state unclaimed money websites.