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Marsha411JD
Marsha411JD, Attorney
Category: Estate Law
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Experience:  Licensed Attorney with 28 yrs. exp. with Estate Law issues
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I received a mail from Legal Claimant Services

Resolved Question:

I received a notification in the mail from Legal Claimant Services (legalclaimant.com) stating that $15K in assets unclaimed from my grandmother's estate had been located by the company. The fee to claim the money is 33% and is not paid until funds are actually recovered. There is another line that reads that if I recover the account by circumventing LCS after they disclose information regarding the assets, I would still owe LCS.
33% is an extremely high fee, but if assets are indeed owed, why would I need LCS to act as a middle-man in claiming the funds? The assets being referenced are associated with my grandmother who passed approximately 2 years ago. My grandmother was extremely organized and was aware and documented all assets. I also found it odd that this was resurfacing 2 years later. How can I claim funds provided there are unclaimed funds associated with my grandmother's estate?
Submitted: 2 years ago.
Category: Estate Law
Expert:  Marsha411JD replied 2 years ago.

The Company that you mention, which is, I assume the same company as can be found at the link below, does have an A+ rating with the BBB. That said, the percent charge they want for whatever asset they have found is not insignificant. However, they often locate assets through their research that heirs of the deceased would never have found. So, if the heirs want any of the asset that they would not have discovered but for the company, they have to decide if some is better than nothing.

As far as locating assets without using a company like this, it takes some footwork (on the computer) and sifting through old paperwork of the deceased. If your grandmother lived her whole life and passed away in NC, then you can check at the following link for unclaimed property: http://www.nccourts.org/courts/oco/clerk/escheats.asp

You can also check the NC State Treasurer's website for unclaimed cash in your grandmother's name.

The link for the company that contacted you is at: http://www.legalclaimantservices.com/about-asset-recovery-services

Please feel free to ask for clarification or related follow up questions.

Marsha411JD, Attorney
Category: Estate Law
Satisfied Customers: 17403
Experience: Licensed Attorney with 28 yrs. exp. with Estate Law issues
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