Expert: Jim Meadows - 8/25/2009

Question
Hi Jim
I recently found a banking deposit/withdrawal slip that my grandmother had for a "secret account" she kept in my name and hers. She passed away 10 years ago and her stepson took the assets.  My question is that the bank is no longer in business (The Bank of Seattle or University Federal Savings and Loan?)  Is there any way to find out if the money is still in her name or has it disappeared over the years? Any suggestions welcome :)
Thank you, Justine


Answer
Justine, "Stepson took the assets". I assume you mean that he took all but this asset. If he did take funds from this account, you may have a claim against the stepson for the balance of the account at the time of your grandmother's death. It doesn't hurt to ask. If he did not close this account, there is a chance that it "escheated" to the state. Google "unclaimed property" and the state of your grandmother's account and follow the instructions. Good Luck, Jim