Estate Planning Focus - Spring 2011

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Did You Know?

Michigan Unclaimed Property

A routine step in locating assets for a decedent's estate calls for checking the State of Michigan’s unclaimed property Web site for assets that have been turned over to the state during the decedent's lifetime. This same step should be taken in other states where the decedent may have had financial accounts or other assets.

Individuals should also check the Web site periodically to determine if they have unclaimed property. A recent change in the Michigan Unclaimed Property Act has moved the reporting dates and shortened the dormancy periods of most properties that must be submitted to the state as unclaimed property.

If you haven't recently checked for unclaimed property remitted to the State of Michigan, visit www.michigan.gov/treasury.