WHERE IS THE MONEY?
Generally, the client has an idea of the assets owned by the Decedent. If not, we recommend looking through Decedent’s mail or documentation at the house such as bank statements, retirement account statements, employee records, etc.
If the client unaware of certain assets, we can send a general request letter to all financial institutions inquiring into whether Decedent held any financial accounts. In order to send this request, a personal representative must be appointment which grants authority to receive Decedent’s information. We also do the same general request letter to life insurance companies, annuity, and IRA companies.
Another mechanism for finding assets is searching Found Money and Michigan Unclaimed Property. The assets held by these entities are property that was never claimed and are being held by the State until claimed by the proper property owner.