What to do if I found unclaimed property worth around $1,400 for my aunt?

The property is a life insurance property. She never married and all her brothers and sisters are deceased. No estate was opened when she died 17 years ago. She had no assets. My 2 cousins and I are the closest living relatives. I researched all the procedures that need to be done but am not sure whether it would be worth the time and effort for this amount of money. Do you know approximately what the net amount would be? We would split it 3 ways.

Asked on August 9, 2013 under Estate Planning, Pennsylvania


Nathan Wagner / Law Office of Nathan Wagner

Answered 7 years ago | Contributor

You mean there is a life insurance policy, which was payable in the event of your aunt's death? The policy should state who receives the insurance money after your aunt's death. It should be a relatively simple matter to collect the money. You shouldn't have to go to court or open an estate. Contact the insurance company, and they will tell you what you need to do. You will need a copy of the death certificate.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.