What should I do if I suspect unclaimed property includes funds from a wrongful death settlement?
Detailed Answer
If you believe funds from a wrongful death settlement ended up as unclaimed property, act promptly. North Carolina’s Unclaimed Property Act (Chapter 116B of the North Carolina General Statutes) requires businesses and financial institutions to turn over inactive financial assets to the State Treasurer’s office. Often, settlement proceeds held in trust or escrow that go uncollected become part of those records.
First, search the State Treasurer’s unclaimed property database. You can do this online at nctreasurer.com. If you find a matching record, review the details—owner name, last known address and account type—to confirm it relates to the wrongful death settlement.
Next, gather documents proving your right to the funds. Typical evidence includes the settlement agreement, court order approving the settlement, letters testamentary or letters of administration if the decedent’s estate required probate, and proof of your relationship or role as personal representative. North Carolina law lays out the claim process in N.C.G.S. § 116B-37 and specifies what supporting documentation you may need. You must submit a sworn claim form, available on the Treasurer’s website, along with certified copies of court documents.
If the record does not appear online or you face difficulty obtaining information from the holders of the funds, you can request a search of historical records from the Unclaimed Property Division. In some cases, you may need to file a judicial proceeding to compel production of records held by financial institutions or escrow agents. Under Chapter 116B, the Treasurer can also issue subpoenas to locate or verify unclaimed assets.
Finally, once you file the claim with the Treasurer’s office, allow 90 days for review. If additional information is needed, respond quickly to any request. After approval, the Treasurer issues a check payable to you or to the decedent’s estate. Keep copies of all filings for your records.
Key Steps to Take
- Search the North Carolina Unclaimed Property database at nctreasurer.com.
- Gather proof of your claim: settlement agreement, court approval, letters testamentary or administration.
- Complete and file the Treasurer’s sworn claim form under N.C.G.S. § 116B-37.
- Request a records search or subpoenas if the funds are not listed online.
- Respond promptly to any additional documentation requests from the Unclaimed Property Division.
- Track your claim status and keep copies of all correspondence.
Recovering funds from a wrongful death settlement can involve complex procedures and strict deadlines. At Pierce Law Group, our attorneys guide you through searching for unclaimed property, preparing documentation and filing claims correctly. If you suspect unclaimed property includes your loved one’s settlement funds, reach out today. Contact Pierce Law Group by email at intake@piercelaw.com or call us at (919) 341-7055. We stand ready to help you reclaim what you’re owed.
