What to do about an unclaimed retirement account in a deceased’s name?

My mother is in a nursing home and my father passed away 5 years ago. All assets were put into my brother, sister and mine name as heirs, before my father died. This was done so that we wouldn’t loose everything to the nursing home and my mother wouldn’t loose her health benefits. Recently my brother was contacted about unclaimed property, a retirement account left in my mother’s name. It must have been overlooked by my father at the time before his death. My brother tried as executor of my dad’s estate to have the money put into the heirs names (again so that my mother didn’t loose benefits). They turned it over to the legal team. stating that we can’t contact them and they will send a letter to us. We haven’t heard anything in 8 weeks what should we do?

Asked on August 29, 2013 under Estate Planning, Massachusetts

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

You and your siblings need to consult with a Wills and trust attorney to assist you all in the endeavor to ascertain the true location of the unclaimed account written about and to process the claim. A competent attorney can be found for you on attorneypages.com in your locality.


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