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Gabby101's avatar

Has anyone ever claimed "Unclaimed Property" as an heir?

Asked by Gabby101 (2945points) October 2nd, 2011

I went to my state’s unclaimed property website and I found about $700 that belonged to my grandfather. Most of his estate was left to my grandmother, and my father was executor of her estate when she died, but he is now gone, too. The money is spread across four different accounts and I would like to claim the money for my mother, but I’m confused as to what would happen in terms of my grandfather’s/grandmother’s other heirs. Their wills went through probate, so does that mean it will get split amongst all of the heirs or does my mother get to keep all of it since she would be the one claiming it?

I know that the fair thing is to divide it among all the remaining heirs, but for $700 it’s not worth it if we have to pay a lawyer or even if we have to divide the money beyond my grandmother’s remaining children (as in, down to the grandchild level for those children who have passed). There are just too many heirs. I’d even be okay giving to charity if that was a way to get beyond all the work of divvying it up. Does anyone have experience with this?

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4 Answers

lillycoyote's avatar

Well, I’ve never claimed unclaimed property being held by the state for a deceased person but I know when you file a claim you have to prove to the state that you have a right to file for that money or property. Has your mother actually filed the claim yet?

john65pennington's avatar

Ask each possible heir to the $700, if they would be agreeable to dividing the money. Leave out any attorney involvement. You will need Death Certificates as proof.

Gabby101's avatar

No, we didn’t file the claim because we don’t want to be stuck doing all of the paper work if it has to be divided among all the heirs. At this point, depending on the wording of the will, it could be up to 30 people!

lillycoyote's avatar

@Gabby101 It might not be worth the bother then. Whoever is the executor of the estate would be the person who would have to claim the $700 and then distribute among the heirs according to the terms of the will.

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