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

Answers:

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.


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