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The tricky thing is that if no one from family knows you have $$$ in Bank Foo, this money can just lie there unclaimed forever (until taken by the government af
by jakub_g 4y ago
The tricky thing is that if no one from family knows you have $$$ in Bank Foo, this money can just lie there unclaimed forever (until taken by the government after N years).
Even if theoretically those institutions should proactively search for deceased owners' heirs in some jurisdictions, I wouldn't trust this to happen.
At least listing all banks, stocks accounts & insurances you have might be really useful. Just set a yearly reminder to self in calendar to send such an email to your closest family member.
- lupire 4y agoNot really. There is a legal process for returning/forwarding unclaimed property. www.Unclaimed.org,
- jakub_g 4y agoThere is more than one country in the world I believe, and details and laws differ in each country.
- nuclearnice1 4y agoHey! Fair point but don't be snarky.
- SkyPuncher 4y agoSo make a list. You don't need to disclose the passwords, just make a list. Also, just keep your mail. Everything important in your life will send you mail.
- hawaiianbrah 4y agoI made a document of important details like this. Where my various accounts are, what they are etc.
- alias_neo 4y agoA colleague of mine has some inheritance in a European country; he's been taking trips out there every few years to try and get hold of it; every time he does, the new guy who runs the place needs _some other_ document, some dozens of _other_ documents later, still no money. This is in part because said country's process requires a document that literally doesn't exist for the home country of either party in this inheritance; they won't give him the money, and they won't take the money, so it just sits there indefinitely.
- ahaferburg 4y agoWhy do you not name the country?
- alias_neo 4y agoThe story is pretty unusual, I don't want to dox anyone by giving specifics.
- CommieBobDole 4y agoSounds like somebody maybe wants a bribe and he's not picking up on that.
- Kon-Peki 4y ago> Even if theoretically those institutions should proactively search for deceased owners' heirs in some jurisdictions, I wouldn't trust this to happen. It happens all the time. https://www.cbsnews.com/chicago/news/the-countrys-largest-return-of-unclaimed-property-is-in-illinois-valued-at-11m/ https://www.cbsnews.com/chicago/news/the-countrys-largest-re... It took them years to find distant relatives; none knew about the guy or his money. Why didn't the state workers just do nothing and keep the money? Because they actually do their job, that's why.