How do I explore for my uncle's funds or a life span insurance policy?
My uncle was dislocated after Hurricane Katrina. We asked him to live next to us but he refused individual an elderly bachelor and thought he could live on his own. I was his merely living next of kin and we be very close. Still, he have always be a loner. Last we heard from him, he have surgery and was moving contained by with a friend out of state. I hold tried to locate him for months to see how he was doing next to no luck. Imagine the surprise when I found out he passed away three months ago. A funeral was held afterwards since he had a burial policy, arranged by another friend of his, an attorney. This man know our number and address and never called. My uncle mentioned a natural life insurance policy a while back. How would I locate it? I am thinking that may be the justification I wasn't notified of his demise. Maybe his friend knows a agency to collect. He isn't trustworthy. Also, I am not sure of his assets if any since the storm? How would I locate them since I am the only subsequent of kin?
Answers:
OK, You own to go to court and procure appointed executor of his estate, so you can go to his dune (yes, even though the branch was contained by new orleans, they'll hold the data back up!) and get the harmonize information and/or checking account statements.
You'll involve to go through the behind the times statements to find out what company he'd made payments to - maybe check former times three years. Then contact them.
Wills, once filed, are public library - so you should be able to shift to the local probate office and see if in that was a will file for probate. The executor of the will would have be named contained by the will - and you can't do a blessed thing in the order of that. So if your uncle WANTED that guy to be executor, and named him as such, after, well, you're sol. But if he name someone else, or died without a will, afterwards you've got a potential officially recognized battle on your hand, as far as which state's inheritance laws will pass over, Louisiana, or the new residence.
ONLY the human being named as beneficiary can collect the money on the natural life insurance policy. Also, the bank isn't going to allow "the friend" to hold any money in the portrayal, without the executor agreement, so you don't hold to worry more or less those funds going AWOL, either.
Contact the insurance commission in the state he lived surrounded by.They are required by law to hold any and all insurance policies he MIGHT own had.
Tips on how to find lost life insurance policies:
How to look for lost go insurance policies:
oGo through canceled checks or contact the insured's bank for copies of infirm checks. Look to see to whom checks were made out. You only may find an insurance company.
oAsk those who may have particular about the insured's financial situation. Try their advocate, banker or accountant. Also try their auto or home insurance agent. They may know where on earth the insured went for existence insurance.
oContact the insured's past employer. An employer may know of possible group insurance. The insured may own also purchased supplemental insurance through work.
oKeep in mind that nearby is no national database of lost life insurance policies.
Also, if the insured dies and three to five years latter you, the beneficiary, still can't find the policy. There's a chance -- though a slight one -- that you can run to the state, rather than the company, to win the money.
Ron @ InsureMe http://www.insureme.com/landing.aspx?ref...