8 Steps to Locating a Loved One's Assets During Probate

When a loved one passes away, managing their estate can feel overwhelming, especially during a time of grief. Identifying and locating assets during probate is one of the first and most critical tasks. Where do you begin? What should you look for? And how can you ensure nothing is overlooked?

Whether you are the executor of the estate or a family member assisting in the process, understanding the steps to uncover assets is essential. This guide outlines seven practical steps to help you locate your loved one’s assets, including financial accounts, real estate, and personal property.

1. Search the Home for Important Documents

A loved one’s home is often the best place to begin your search. Many people keep important documents stored in filing cabinets, desk drawers, safes, or closets. Key documents to look for include:

• The estate plan, which may contain a will or trust documents.

• Financial records, such as bank statements, insurance policies, and investment account details.

• Deeds, titles, and other property-related paperwork.

If you locate the will, it may list the decedent’s assets and provide clues on where to find them.

2. Check Their Digital Footprint

In today’s world, much of our financial and personal information is stored digitally. Check your loved one’s computer, tablet, or smartphone for electronic records, including emails, online banking portals, and cloud storage.

If these devices are password-protected, you may need to contact service providers. You can request access to their digital accounts with the proper documentation, such as a death certificate.

3. Talk to Family and Close Friends

Even if you were close to your loved one, you may not know everything they owned. Reach out to family members, friends, or trusted confidants who might have additional insights into their assets.

For example, a sibling might know about an investment account, or a friend could recall a conversation about a storage unit. Gathering this information ensures no assets are missed.

4. Contact Financial Institutions

If you’ve identified banks or credit unions your loved one used, reach out to them directly. With appropriate documentation, such as a death certificate and proof of your authority as executor, you can access account details. Be sure to ask about:

• Checking and savings accounts.

• Safety deposit boxes that may contain valuable items or documents.

• Outstanding loans or credit card balances that need resolution.

5. Consult Their Employer

If your loved one was employed at the time of their passing, their employer could provide valuable information about:

• Pension plans or retirement accounts.

• Life insurance policies offered through the company.

• Personal property or belongings left at their workplace.

Even if they were retired, it’s worth contacting their last employer to determine if any retirement benefits remain.

6. Search for Unclaimed Retirement Benefits

In addition to contacting the employer, you can search the national databases for unclaimed pension benefits. To start, you will need your loved one's social security number.

• Search Pension Benefit Guaranty Corporation:                                                    https://pbgc.gov/wr/find-unclaimed-retirement-benefits

• Search National Registry of Unclaimed Retirement Benefits:  https://unclaimedretirementbenefits.com/search

7. Visit the Local Probate Court

Many property records are filed with the local probate court, including deeds, titles, or other legal documents. Contact the probate clerk for assistance in locating these records. Public records are generally accessible, but for private files, you may need to present a death certificate or proof of authority.

8. Reach Out to Their Estate Planning Attorney

If your loved one worked with an attorney to create their estate plan, the attorney could be a crucial resource. They may have a comprehensive list of the decedent’s assets or additional records to guide you.

To access this information, you’ll need to demonstrate your authority as the executor or administrator of the estate. Bring all necessary documentation, including the death certificate.

Final Thoughts

Locating a loved one’s assets can be an emotional and time-consuming process, but following these steps will help you stay organized and ensure nothing is overlooked. If you find the task too overwhelming, consider enlisting the help of professionals, such as probate attorneys or specialized real estate agents, who can provide guidance and support.

As Phoenix-area real estate professionals specializing in probate, we are here to assist families navigating the complexities of managing real estate during this challenging time. Feel free to reach out if you need help valuing a property, securing it against trespassing, or preparing it for sale. Where Compassion Meets Expertise – the Kenner-Laven team will make this process smoother and less stressful for you and your family.