I. Introduction
Dealing with the death of a loved one is undoubtedly one of the most emotionally challenging times anyone can go through. However, it’s also a time when you may need to locate the assets of the deceased person. Whether you’re an executor, beneficiary, or next of kin, finding assets of a deceased person is essential to execute their estate plan and finalize their affairs.
This guide will provide you with actionable ways to find assets of a deceased person for free.
II. Research Public Records
One of the most effective ways to find assets of a deceased person is to start by searching public records. Public records are a comprehensive resource as they contain information on the various assets and properties that the deceased person owned, and their values.
To access public records, start by contacting the county’s clerk or recorder of deeds where the deceased person resided. Some public records to search for include property deeds, tax records, and probate court records, which provide an inventory of assets and other information about the estate.
Searching public records is at no cost, and they offer a wealth of information, including the type of asset, the value of the item or property, and how it will be distributed based on the will or other legal documents.
III. Use Online Resources
There are also several online resources you can use to find the assets of a deceased person. These include Unclaimed.org, MissingMoney.com, and other similar platforms that can help you locate unclaimed property in the deceased person’s name.
To use these websites, enter the name of the deceased person, and the search engines will pull out all the instances of unclaimed property or funds that belong to them. The websites are free to use, and the results are accurate, user-friendly, and comprehensive.
IV. Contact Banks and Financial Institutions
Banks and financial institutions are excellent resources for finding assets of a deceased person. Contacting institutions where the deceased had checking and savings accounts, investment accounts, or retirement accounts can provide insight into their assets.
When contacting the banks, you need to provide proof of your relationship with the deceased person, their date of death, and other pertinent information. The banks will verify this information, and once verified, you can request information on the accounts in question, including their balances and other details.
V. Check with the Department of Motor Vehicles
Did the deceased person own a car or another motor vehicle? If yes, then they could be on the Department of Motor Vehicles (DMV) records. Searching through these records may unveil valuable information about the assets the deceased person had.
To perform a DMV search, contact the nearest DMV office with the necessary information, including the deceased’s full name and their driver’s license or title number. The DMV records are free to access and can disclose additional assets, including boats, motorcycles, and other similar assets.
VI. Search for Life Insurance Policies
The proceeds from a life insurance policy can significantly impact the assets the deceased person has and can prove an essential resource for the beneficiaries. To find life insurance policies, start by checking the deceased person’s records, including mail, bank accounts, and files they kept.
Also, look for records of premium payments, receipts or statements that verify policy coverage. Once you have proof of a policy, contact the insurance company to obtain details about the value, beneficiaries, and other pertinent information related to the policy.
VII. Ask Friends and Family Members
Friends and family members should be another source of information when trying to find assets of a deceased person. They may have intimate knowledge of the deceased’s day-to-day life, what assets they owned, and where they kept them.
To respect confidentiality, frame the request as an opportunity to understand the deceased person’s affairs and not as a way of finding assets. Additionally, ask for information using discretion and avoid discussing sensitive topics in public places that don’t protect privacy.
VIII. Conclusion
When locating assets of a deceased person, being thorough, and persistent are key. Start with public records, then use online resources, banks and financial institutions, DMV, life insurance records, and the help of friends and family members to give yourself the best chance of finding the assets you’re looking for.
There are various entities that hold the assets of the deceased, and the strategies used for locating these assets may differ. However, with the tips outlined in this article, you can comfortably navigate the often-complicated process of finding assets of a deceased person for free.
For more information and support, seek professional advice from a qualified attorney, financial planner, or other professionals with experience in dealing with deceased estates.
