ByFind Unclaimed Inheritance Money You Didn’t Know About
Currently, there are more than $58 billion of unclaimed funds held by the U.S. government. Some people are owed millions, while others can only claim a few dollars. On average, a claim is worth more than $100. As a part of this huge amount of forgotten money, there is quite a bit of inheritance money that’s remained unclaimed. You might be missing out on a substantial inheritance. DoNotPay can search multiple databases to help you find forgotten money in your name.
What Is Unclaimed Money?
Unclaimed money is also often referred to as ‘lost’ money. Unclaimed money can be anything with monetary value that’s remained without action by the rightful owner in a certain amount of time. In other words, the owner of the asset has not taken any action to claim the money within a specified period. The time lapse depends on the specific state that you’re in, as well as the type of asset.
Why Do People Leave Inheritance Unclaimed?
There are various reasons why estate money goes unclaimed.
| Reason | Description |
|
The beneficiary didn’t accept the estate |
The beneficiary has a choice whether or not to accept the gifts named in the will |
|
The beneficiary died before the estate was finalized |
The beneficiary could have passed away before the person leaving the gift or before the estate was finalized |
|
Error |
The asset could be left out of the will due to an error |
|
The beneficiary was unaware of the inheritance |
The beneficiary could have changed their contact details or address, and the executor of the estate was unable to contact them to inform them of their inheritance |
|
Intestate death |
The deceased died without a will in place |
What Happens in the Case of Intestate Death?
If someone dies intestate, the unclaimed money from the will automatically go to the state. If the next-of-kin claims the money, it’s distributed in a predetermined order. Usually, the estate money will be divided between the deceased’s spouse and children first. If you don’t have a spouse or children, the next closest family members will receive the inheritance money. If you don’t have any living relatives, the estate money becomes government property. If a family member passed away without a will, it could mean that you have unclaimed estate money.
How Would You Know if You Have Unclaimed Inheritance Money?
If you suspect that you might have inheritance money or any form of unclaimed assets, you can find them in a few ways. Keep in mind that each state has its own laws and rules regarding unclaimed inheritance money, but the process for claiming forgotten is basically the same. There is no centralized database to search for unclaimed inheritance in the U.S. Depending on your state, you may be able to access a government database for unclaimed money. Some states allow you to make a request for a name search through a hotline or email address. You should check the rules of your state before you start the process.
There are many independent agencies that can help you track down unclaimed estate money. These agencies will usually take a percentage of the amount recovered. You can try some of these agencies:
Let DoNotPay Find Your Unclaimed Estate Money
DoNotPay is the easiest and safest way to find your unclaimed inheritance money. The service is included in your subscription, and you won’t have to pay a percentage of your inheritance to recover it. You can follow a few simple steps to see if you have missing estate money:
- Open the DoNotPay app in your
- Access the Missing Money feature
- Enter your personal details
We search a variety of databases to find any unclaimed estate money in your name. To make the search more efficient, remember to include your middle name and previous addresses.
If you have missing inheritance money that you’re entitled to, you can use the Claim My Property feature. DoNotPay will file a claim for your estate money on your behalf.
Don’t Become a Victim of Inheritance Scams
Have you ever received an email stating that a relative has passed away and left their estate to you? This is a common scam, and many people have lost substantial amounts of money to it. Scammers have become sophisticated enough to make the emails look like they were sent by a legitimate government agency or attorney. You can keep yourself safe from these scams by:
- Researching the company that sent the email. If it’s a legitimate government agency or law practice, you’ll be able to find plenty of information about them on the web. If you can’t find information, it’s likely a scam
- Being careful who you give your information to. Keep your personal details private until you’ve established that it’s a legitimate claim and not a scam. Even if the scammers aren’t successful, they can still use your credentials to scam the next person
- Being realistic about your expectations. It’s unlikely that a government agency will contact you about an unclaimed inheritance. If it feels too good to be true, it probably is. Sometimes private agencies or practices contact beneficiaries about estate money that should be paid out to you. In this case, you’ll most likely be aware of the death of the relative that named you in their will. If you don’t recognize the name, it’s likely a scam
- Keeping in mind that you’ll never be required to pay to retrieve your inheritance. If the agent or attorney asks for an upfront payment, it’s an obvious sign of a scam
DoNotPay Can Deal With Almost Any Problem on Your Behalf
The world’s first AI Consumer Champion was designed to sort out various problems for you. From finding lost money, putting in claims on your behalf, to managing all your subscriptions and memberships on your behalf, the DoNotPay app is there to make your life easier.
The service works on a subscription basis and includes all the services that you will find on the website. You’ll find tons of tips and tricks to save money and simplify your life. Open DoNotPay in your to see how we can help you with things like:
- Getting refunds or chargebacks from companies
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- Finding unclaimed money under your name
- Filing a claim for any warranty