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RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 29198
Experience:  Texas lawyer for 29 years in Estate law
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I was contacted by Legal Claimant Services about an unclaimed

Resolved Question:

I was contacted by Legal Claimant Services about an unclaimed stock account of my late Mother's. I checked them out and they are legitimate asset recovery business. They claim to have found this account with a value of several thousand dollars. I am wondering if there is any way I can find the account myself rather than pay LCS's hefty fees. I checked the unclaimed asset websites and went through files of my mother's with no luck. Anything else I can co?
Submitted: 11 months ago.
Category: Estate Law
Expert:  RayAnswers replied 11 months ago.
Thanks for your question and good afternoon.Can you tell me if your mother was a resident of Arizona and would this be where the funds are located.
Customer: replied 11 months ago.

I do not know where the funds are located. It appears to be corporate stocks but not in a brokerage account from what I can tell. My mother was a Minnesota resident with a home in Arizona which was where she lived the last year of her life, although she didn't take the steps to change state residence (driver's license, paying state tax in AZ).


 


That may be more information than you need but I'm trying to cover as much as I can.


 


LCS claims they are "contracted" by companies to find owners of unclaimed assets. Aren't those companies also required to make the information public?

Expert:  RayAnswers replied 11 months ago.

Thanks for the information.You have some places to look first.I would start here--you can search and file claim if it here.These are unclaimed funds in Minnesota that are turned to state and you can claim them.

http://mn.gov/commerce/topics/Unclaimed-Property/Information-For-Claimants/


Here is the one for Arizona, again you can try here for free.

http://www.azunclaimed.gov/

All states have these so if you think there may be another state or two try them too.It costs you nothing and this is where they get their names and information about assets.

 

All the other states, these are the free ones that these guys are accessing.You can do this yourself and save your money.


Thanks for letting me assist you today.I wish you the best recovering this yourself.

Customer: replied 11 months ago.

I had already checked the unclaimed asset sites of Minnesota and Arizona, as well as any others I could think of at the first website that lets you check multiple states. For the last 40 years my mother lived in Minnesota with the winter home in AZ. So, the property should be "located" in one of those states, correct?

Expert:  RayAnswers replied 11 months ago.
You are correct that these would be the first choices but if there were stocks they could be elsewhere.Here is a good resource here to keep looking--it has two sites to look for stocks again for free.

http://abcnews.go.com/Business/MadeInAmerica/unclaimed-money-stocks-tracking-shares-lost-track/story?id=15355832


And you care correct that this is a legimate company that puts together a lot of data bases not unlike say a credit bureau and they stay in business by finding things in various places.They have an A + rating with BBB.Hopefully you can find this if you keep looking.
RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 29198
Experience: Texas lawyer for 29 years in Estate law
RayAnswers and 4 other Estate Law Specialists are ready to help you

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