Estate planning is a crucial aspect of securing your financial legacy, and sometimes, valuable assets can slip through the cracks. Unclaimed property often goes unnoticed, but with the right knowledge, you can ensure that every asset finds its rightful place.
Here are five tips to help you understand unclaimed property in estate planning, including how to locate these hidden treasures.
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Know What Qualifies as Unclaimed Property: Unclaimed property typically includes assets that have been left dormant or forgotten, such as bank accounts, insurance policies, utility deposits, and safe deposit box contents. Familiarize yourself with the types of assets that may become unclaimed over time to ensure nothing is overlooked.
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State Unclaimed Property Databases: Most states have online databases where you can search for unclaimed property associated with your name or the name of a deceased loved one. You can check Buried In Work’s State Information pages for the link to every State’s unclaimed property website, which often have free search tools.
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Conduct Regular Reviews: You would be surprised what you might find… we recommend doing a quick search of your name or business in every state you’ve lived in.
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Utilize Online Resources: Finding unclaimed property has never been easier, thanks to online resources provided by government agencies. Visit the official website of your state’s unclaimed property division or use reputable online databases to search for any assets linked to your name or the names of your loved ones.
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Visit our Unclaimed Property Information Hub: Visit our Unclaimed Property Hub for more unclaimed property information and links to state and federal unclaimed property databases.
The specific information required to claim unclaimed property from the state can vary depending on the jurisdiction and the type of property involved, however, it’s generally an easy process.
Good luck!
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