Disclaimer: This article provides general information about Illinois unclaimed property law and is not legal advice. Always consult a qualified attorney for guidance in your specific situation.
Detailed Answer
When a person dies, their assets may go unclaimed if no heir or beneficiary steps forward. In Illinois, the Illinois Uniform Disposition of Unclaimed Property Act (765 ILCS 1025) governs how to locate and recover these assets. Here’s how heirs can find and claim unclaimed property:
1. Understand What Qualifies as Unclaimed Property
Unclaimed property includes bank accounts, safe-deposit contents, uncashed checks, insurance proceeds, and other financial assets held by businesses or financial institutions for more than three years without owner contact. The Illinois Comptroller holds these assets until the rightful owner or heir claims them.
2. Search the Illinois Unclaimed Property Database
Visit the Illinois Comptroller’s unclaimed property portal at illinoiscomptroller.gov/unclaimed-property. Enter the deceased relative’s full name, city, or business name to view a list of potential matches. You can also search nationwide via the National Association of Unclaimed Property Administrators at unclaimed.org.
3. Gather Required Documentation
After identifying potential assets, collect proof of your relationship and entitlement, such as:
- Death certificate of the decedent
- Certified copy of the will or court order appointing you as executor or administrator
- Heirship affidavit or family tree chart
- Valid photo ID and Social Security numbers
4. Complete and Submit the Claim Form
Download the claim form from the Illinois Comptroller’s website. Fill it out accurately and attach all supporting documents. You may submit your claim electronically or by mail. The Comptroller’s office will verify your claim under 765 ILCS 1025/—.
5. Track Your Claim and Respond Promptly
Once submitted, the Comptroller’s office will review your application. They may request additional documentation or clarification. Keep copies of all submissions and respond to any inquiries within the requested timeframe to avoid delays.
Helpful Hints
- Start early: some claims may take several weeks to process.
- Check multiple name variants (maiden names, initials).
- Order a certified death certificate promptly from the county clerk.
- Keep scanned copies of all documents for your records.
- Contact the Illinois Comptroller’s Office at (800) 435-4653 for assistance.
- Consult a probate attorney if the estate is complex or if multiple heirs dispute entitlement.
By following these steps and leveraging Illinois statute 765 ILCS 1025, heirs can confidently locate and claim any unclaimed assets of a deceased relative.