Search for Assets

How to Search for Assets of a Deceased Family Member: A Comprehensive Guide

Losing a loved one brings emotional challenges and practical responsibilities. Among these responsibilities is the important task to search for assets for the person that died. This process, while potentially overwhelming, becomes manageable with the right approach and resources. This guide provides actionable steps to help you navigate this difficult journey with confidence.

Start with the Most Obvious Places

Begin your search for assets with the attorney or law firm that created the estate plan (if one was created). If you decide to retain that law firm, that information may be readily accessible.

Then, search for assets where most people store important documents:

  • Home filing cabinets and desks: Look for folders labeled “important documents,” “financial information,” or “estate planning.”
  • Safe deposit boxes: Inquire with local banks where the deceased may have held accounts.
  • Digital storage: Examine computers, external hard drives, email accounts, and cloud storage services for financial documents.
  • Mail: Monitor incoming mail for at least three months to catch statements, bills, and notices that could reveal unknown accounts.

Look carefully for:

  • Bank Statements and Financial Records – Identify checking, savings, and investment accounts.
  • Property Deeds and Titles – Locate real estate, vehicles, and valuable possessions.
  • Insurance Policies – Life insurance, annuities, or policies with cash value.
  • Retirement Accounts – Look for IRAs, 401(k)s, or pensions.
  • Tax Returns – Previous tax filings can reveal income from investments, properties, or other assets.

Gather Essential Documents

Certain documents serve as roadmaps or bread crumbs with your search for assets:

  • Last Will and Testament: Often contains references to major assets and how they should be distributed. Or, the binder in which the estate plan is kept may have a list.
  • Trust documents: May list assets placed in trust for beneficiaries.
  • Tax returns: Previous years’ returns can reveal income sources, investments, property, and business interests.
  • Bank statements: Provide information about cash assets and recurring deposits or withdrawals.
  • Insurance policies: Life, health, auto, and home insurance documents may reveal additional assets or benefits.

Utilize Online Resources

The digital age offers valuable tools for asset discovery:

  • Unclaimed property databases: Check state-specific unclaimed property websites. The National Association of Unclaimed Property Administrators (NAUPA) provides links to official state databases. Or, search directly at the state specific unclaimed property website.
  • Property records: Most counties maintain searchable online databases of property ownership. Some of these databases are free and some charge a fee.
  • Social Security Administration: Contact them to determine if death benefits are available.

Contact Financial Institutions and Employers

Personal connections often yield valuable information:

  • Banks and credit unions: Visit local branches with death certificate (and if issued, the Letters of Authority). Banks typically will not tell you much information without a Letter of Authority. With only a death certificate, some will at least acknowledge if an asset exists.
  • Investment firms: Contact companies where the deceased may have held retirement accounts or investments.
  • Former employers: Reach out regarding potential retirement accounts, pension plans, or death benefits.
  • Insurance companies: Check for life insurance policies, annuities, or other financial products.

Digital Asset Considerations

Don’t overlook the growing importance of digital assets:

  • Cryptocurrency: Check for hardware wallets, exchange accounts, or documentation related to digital currencies.
  • Online businesses: Look for revenue-generating websites, blogs, or e-commerce stores.
  • Intellectual property: Search for patents, trademarks, copyrights, or royalty-generating creative works.
  • Valuable domain names: These can be significant digital assets worth preserving or selling.

Conclusion

Finding a deceased family member’s assets requires patience, organization, and thoroughness. By following these steps and leveraging available resources, you can fulfill your responsibilities while honoring your loved one’s legacy.

Contact The Probate Pro today:

📞 Call (833) PROBATE | (833) 776-2283 or visit TheProbatePro.com to get started.

This post is for informational purposes only and does not constitute legal advice. For guidance specific to your situation, please consult with a qualified attorney.