Thursday, July 21, 2011

In the Event of My Death

This article is a bit on the morbid side but Chris and I have been trying to get our affairs in order since we now have the kiddo. For many years we had a will that we drew up ourselves which mainly spoke to who was going to get our assorted household items, our bank accounts, and provisions for Bailey’s care. Can’t leave the pup out in the cold.

But things get a bit more complicated when you add another human into the mix. So when the Wall Street Journal published an article titled 
The 25 Documents You Need Before You Die, we took note. 

Also, on a similar [but not really] topic, have you looked up to see if your state is holding any monies for you in long forgotten accounts? 

All unclaimed money and property is turned over to the states who must hold it indefinately until you file a claim for it. The current total amount of unclaimed money and property currently being held by all states is estimated to be between 10 and 20 billion dollars. Some valuables being held date back to the Civil War.

I found a total of seven accounts for various family members . The average claim amount is $250.


The only thing I’m not sure about is how you would handle the taxes from what is essentially a new (one-time) source of income. 

Click here to search by state.