A friend's late husband was secretive about his finances. How to confirm suspicion of possible hidden account?

Question

He died intestate and left no record of financial assets. Probate has been granted no questions asked. Surely it must be a common problem for money to remain hidden after its owner has died?

Answer 1

A private investigator is the first option, but can be costly. But probate should have uncovered most assets etc. You could try the deceased solicitor.

Answer 2

If this question is about an American estate, I would start by reviewing income tax returns for the past several years to see if interest and dividends were listed, if rental income and expense from rental properties were present, etc.

Usually, if you monitor the mail that is received after the death, you can find such things as bank statements, brokerage statements, mutual fund statements, and the like.

I would also have somebody check the office for recording of deeds or county assessor's office to see if the decedent owned real estate in the county in which he died, and I would also do it as far as contiguous and bi-contiguous counties.

Some former clients also "hid" things in their residence which were not discovered until after their death. I have seen numerous circumstances of envelopes taped to the back or bottom of drawers in a chest of drawers, items hidden in books in the library, and we even were involved in the affairs of a woman who had $80,000 in her freezer [no, she was not a congressional representative].

There can be all kinds of assets: antique furniture stored in a barn, things hidden in a wood shop, cash placed in a Mason jar and buried under a manure pile, antique cars that may be in garages at various locations in town and around the county.

I have been fortunate to have worked with some excellent and honest auctioneers over the years, and they have helped find some hidden money.

Answer 3

To check for old bank accounts try British Bankers Association (bba.org.uk). For old building society accounts try The Building Societys Association (bsa.org.uk) for National Savings try NS&I (nsanddi.com) on 0845 964 5000. If you want to carry out a comprehensive search try the Unclaimed Assets Register (usar.co.uk) It charge £18 for a search of old savings accounts, insurance policies, unit trusts and shares etc. You will need grant of probate which gives you the power to act on behalf of the deceased or a copy of his will/death certificate. Hope this helps. Good Luck!

Answer 4

You could check to see if there was any post office products or premium bonds. Although they are not name transferrable, you can fill in a form and ask for a trace based on name and address details.

http://www.nsandi.com/products/pb/howitworks.jsp#unclaimed_prizes