MSU Extension: Looking for Hidden Assets After a Loved One Dies

After a parent or spouse dies, families are often surprised to discover money or financial accounts they never knew existed. A forgotten savings account, an old life insurance policy, an uncashed check, or a retirement account from a former employer can easily go unnoticed for years.

This situation is more common than many people realize. People move, change jobs, change their names, or simply forget about accounts they opened years ago. Important paperwork may be lost during a move, tucked away in a filing cabinet, or thrown out by mistake.

As a result, financial institutions sometimes lose c...