Don’t Let Your Assets Become “Unclaimed Property”
Every year, $60 billion in unclaimed assets—life insurance policies, forgotten bank accounts, retirement funds—sits in state custody because families don’t know they exist or how to access them.
February 1st is National Unclaimed Property Day, a reminder that without proper estate planning, your hard-earned money and valuable assets could be lost. And it happens more easily than you might think.
Let’s explore how assets become “unclaimed,” how to prevent this from happening to your family, and why estate planning is about much more than just having a will or trust.
How Do Assets Get Lost?
You might assume your family would know where everything is if something happened to you. But think about it:
Would they know about every bank account you’ve ever opened?
Could they track down old retirement accounts from previous jobs?
Would they even be able to access these accounts without the right legal documents?
Most people don’t realize how easy it is for assets to slip through the cracks—especially if their estate plan isn’t regularly updated.
In fact, traditional estate planning often makes the problem worse. Many attorneys provide documents—a will, a trust—but don’t help you track and update your assets. That means accounts go missing, policies are forgotten, and money that should go to your loved ones ends up with the government instead.
The Key to Preventing Lost Assets: A Comprehensive Plan
A true Life & Legacy Plan goes beyond documents. It includes:
✅ An Up-to-Date Asset Inventory: A full list of everything you own, from bank accounts and retirement funds to digital assets and insurance policies. This makes it easy for your family to find and access what belongs to them.
✅ Regular Reviews: Your financial life changes over time. New investments, job changes, or a home purchase should be reflected in your estate plan. Your estate planning law firm should help ensure your plan stays current, so nothing gets overlooked.
✅ Clear Beneficiary Designations: Many assets—like life insurance and retirement accounts—don’t always pass through a will or trust. They go to the named beneficiaries on the account. If those names aren’t regularly reviewed and updated, assets may go to an ex-spouse or an outdated contact instead of your intended heirs.
✅ Protection for Digital Assets: Cryptocurrency, online accounts, and even family photos stored in the cloud can be lost forever without proper planning.
Estate Planning Is More Than Just Paperwork
The real value of estate planning isn’t just about distributing money. It’s about:
💡 Making things easy for your family—so they’re not left searching for missing accounts.
❤️ Passing on what truly matters—your stories, values, and traditions, not just your assets.
🔒 Ensuring your wishes are honored—so your legacy is carried out the way you intended.
Take Action Before Your Assets Get Lost
Estate planning isn’t just about the end of life—it’s about protecting what you’ve worked for now. Let’s make sure nothing you own becomes unclaimed property.
📅 Schedule a complimentary 15-minute consultation today to learn how to safeguard your legacy:
This article is a service of Starsia Law, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life & Legacy Planning Session™, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love.
The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.