Inheritance??

[jultoo]

I live in Michigan. I don't want to handle this situation incorrectly. I have been contacted by a service that locates missing heirs. Received their paperwork overnight. They will not give me any details except whose estate is involved. This person passed away in the late 70's. Any thoughts on how to find out details regarding the estate. Would this be a matter of public record somewhere? What questions should I be asking? Any help you can pass on would be greatly appreciated.

 

[ALawyer]

These services charge a lot -- but heck, if they give you money you'd not know about, is it not worth it? CHECK OUT The state escheat websites.

 

[advisor10]

MONDAY, JUNE 25, 2001

DEAR JULTOO:

If you will send me an e-mail message (mail it to the address shown below), I can give you some tips on how to locate this information yourself.

If you could provide me with the following information, I could also check some asset locator databases I have access to:

NAME OF THE PERSON WHO DIED (Are you related to them?)
MONTH AND YEAR THEY DIED
CITY/STATE WHERE THEY DIED
THEIR OCCUPATION OR NAME OF ANY COMPANIES THEY WORKED FOR

SINCERELY,

[email protected]

 

[advisor10]

JUNE 26, 2001

DEAR JULTOO:

You can save yourself some money by not automatically agreeing to the fee rate that they suggest (usually 35%) but by negotiating a lower rate (15-20%) and by INSISTING on the lower rate because "your attorney has advised you that this is the maximum legally allowable rate". To emphasize this point, mail the contract back to them with the rate crossed and out and your new suggested rate written in by hand, so they can send you a corrected agreement. The heir search will usually agree to this because they don't collect their fee unless you collect yours.

Also, read the contract/fee agreement very carefully. Do NOT SIGN ANY FORM that would give them POWER OF ATTORNEY to collect the check for you, where they could cash it and then (supposedly) deduct their fees and send the remainder to you. Most companies that ask for a power of attorney form cash the entire check and keep it for themselves, and the actual heir never hears from them again. It is best for the check to come to you, and then you would cash it and deduct the heir search companies fee and then you would send the fee payment to them.

If you didn't find the person's name listed on the Michigan Unclaimed Money website (located at "www.treas.state.mi.us/unclprop/unclindx.htm"), then it is most likely from a confidential source that is not generally accessible to the public, and so you may want to go ahead and take advantage of the heir search firm's offer.

SINCERELY,

[email protected]