# You die and have no family and no will- what happens to money you have in the bank? **URL:** \ **Category:** Factual Questions\ **Created:** [January 9, 2008, 2:59pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856 "2008-01-09T14:59:12Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![Wee\_Bairn](https://avatars.discourse-cdn.com/v4/letter/w/90db22/32.png) [@Wee\_Bairn](https://boards.straightdope.com/u/Wee_Bairn)\ **Post date:** [January 9, 2008, 2:59pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/1 "2008-01-09T14:59:12Z")
That about sums in it up- does anyone know? ---
**Author:** ![Bearflag70](https://avatars.discourse-cdn.com/v4/letter/b/8e7dd6/32.png) [@Bearflag70](https://boards.straightdope.com/u/Bearflag70)\ **Post date:** [January 9, 2008, 3:02pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/2 "2008-01-09T15:02:01Z")
escheatment to the state ---
**Author:** ![Cluricaun](https://avatars.discourse-cdn.com/v4/letter/c/bb73d2/32.png) [@Cluricaun](https://boards.straightdope.com/u/Cluricaun)\ **Post date:** [January 9, 2008, 3:03pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/3 "2008-01-09T15:03:37Z")
It becomes escheated to the state or an unclaimed property company, like [this stuff right here.](http://www.kantrowitz.com/kantrowitz/uncl-prop.html) Normally the bank will hold it for a set period of time in accordance with state or federal law, but after that passes it just sits as unclaimed monies. ETA- Damn you Bearflag! šŸ˜‰ ---
**Author:** ![Wee\_Bairn](https://avatars.discourse-cdn.com/v4/letter/w/90db22/32.png) [@Wee\_Bairn](https://boards.straightdope.com/u/Wee_Bairn)\ **Post date:** [January 9, 2008, 3:04pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/4 "2008-01-09T15:04:54Z")
[QUOTE=Bearflag70] escheatment to the state [/QUOTE] I should have added, what if you have a significant other, but arenā€™t married and have no will- would they have the ability to try and contest this and maybe be able to get it instead? ---
**Author:** ![Cluricaun](https://avatars.discourse-cdn.com/v4/letter/c/bb73d2/32.png) [@Cluricaun](https://boards.straightdope.com/u/Cluricaun)\ **Post date:** [January 9, 2008, 3:07pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/5 "2008-01-09T15:07:57Z")
This looks like a job forā€¦ **Gfactor**! I donā€™t know bank accounts, but for property I suppose that the unmarried SO may be able to make a claim through [probate](http://en.wikipedia.org/wiki/Probate). ---
**Author:** ![Polycarp](https://avatars.discourse-cdn.com/v4/letter/p/82dd89/32.png) [@Polycarp](https://boards.straightdope.com/u/Polycarp)\ **Post date:** [January 9, 2008, 3:15pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/6 "2008-01-09T15:15:53Z")
[QUOTE=Wee Bairn] I should have added, what if you have a significant other, but arenā€™t married and have no will- would they have the ability to try and contest this and maybe be able to get it instead? [/QUOTE] Hmmmā€¦IANAL, but it is my understanding that the probate courts are generally loath to go for escheatment if there is any provable heir or other surviving person with entitlement. I suspect that in the absence of surviving relatives, one would siply have to prove to the satisfaction of the court that either (1) you as SO have a claim to the bank account (e.g., your paycheck or other identifiable negotiable instruments belonging to you were regularly deposited in it, despite the fact that it ā€˜belongedā€™ to your late SO); or (2) it was the deceasedā€™s intent that you be given those funds (dozens of ways that this might be evidentiated.) Escheatment simply means the state accepts it when nobody else has a valid cliam; it doesnā€™t have one itself, but is the ā€˜heir of the heirlessā€™ as the representative of the people generally ā€“ something like ā€˜abandoned propertyā€™ falls into the hands of the state after X years. ---
**Author:** ![Derleth](https://avatars.discourse-cdn.com/v4/letter/d/b9e5f3/32.png) [@Derleth](https://boards.straightdope.com/u/Derleth)\ **Post date:** [January 9, 2008, 3:48pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/7 "2008-01-09T15:48:35Z")
[QUOTE=Polycarp] ā€˜heir of the heirlessā€™ [/QUOTE] Finding out there are substantial monies at stake would likely be an heir-raising experience. If canines could have wills, getting the assets of a formerly vicious dog might make you the heir of the dog that bit you. Iā€™ll show myself out. ---
**Author:** ![Fir\_na\_tine](https://avatars.discourse-cdn.com/v4/letter/f/a587f6/32.png) [@Fir\_na\_tine](https://boards.straightdope.com/u/Fir_na_tine)\ **Post date:** [January 9, 2008, 3:56pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/8 "2008-01-09T15:56:34Z")
It depends. Generally speaking, the laws of the state you are residing in when you croak will specify what happens. In some states (like mine), if there is another name on the account, the money belongs to them. Never goes into probate, not part of the Estate, possession passes automatically. If there is not another name on the account it sits in the bank until someone shows up with an appointment as Executor (or Personal Representative) of the deceased. Escheatment to the State only occurs after X number of years without activity. And most States provide a way of getting the money back. ---
**Author:** ![An\_Gadai](https://avatars.discourse-cdn.com/v4/letter/a/d6d6ee/32.png) [@An\_Gadai](https://boards.straightdope.com/u/An_Gadai)\ **Post date:** [January 9, 2008, 4:06pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/9 "2008-01-09T16:06:16Z")
[QUOTE=Derleth] Finding out there are substantial monies at stake would likely be an heir-raising experience. If canines could have wills, getting the assets of a formerly vicious dog might make you the heir of the dog that bit you. Iā€™ll show myself out. [/QUOTE] Please do. šŸ™‚ ---
**Author:** ![Wee\_Bairn](https://avatars.discourse-cdn.com/v4/letter/w/90db22/32.png) [@Wee\_Bairn](https://boards.straightdope.com/u/Wee_Bairn)\ **Post date:** [January 9, 2008, 4:08pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/10 "2008-01-09T16:08:08Z")
In this case, no joint accounts of any kind- all the SO could prove is they resided with the deceased. All the more reason to get a will I guess šŸ™‚ ---
**Author:** ![Gfactor](https://avatars.discourse-cdn.com/v4/letter/g/9de053/32.png) [@Gfactor](https://boards.straightdope.com/u/Gfactor)\ **Post date:** [January 9, 2008, 4:20pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/11 "2008-01-09T16:20:40Z")
Here is the Michigan provision on intestate (estates where there is no will) succession: > [@](#): > > 700.2103 Share of heirs other than surviving spouse. > > Sec. 2103. > > Any part of the intestate estate that does not pass to the decedentā€™s surviving spouse under section 2102, or the entire intestate estate if there is no surviving spouse, passes in the following order to the following individuals who survive the decedent: > > (a) The decedentā€™s descendants by representation. > > (b) If there is no surviving descendant, the decedentā€™s parents equally if both survive or to the surviving parent. > > (c) If there is no surviving descendant or parent, the descendants of the decedentā€™s parents or of either of them by representation. > > (d) If there is no surviving descendant, parent, or descendant of a parent, but the decedent is survived by 1 or more grandparents or descendants of grandparents, 1/2 of the estate passes to the decedentā€™s paternal grandparents equally if both survive, or to the surviving paternal grandparent, or to the descendants of the decedentā€™s paternal grandparents or either of them if both are deceased, the descendants taking by representation; and the other 1/2 passes to the decedentā€™s maternal relatives in the same manner. If there is no surviving grandparent or descendant of a grandparent on either the paternal or the maternal side, the entire estate passes to the decedentā€™s relatives on the other side in the same manner as the 1/2. [http://www.legislature.mi.gov/(S(uwfotl55b1l0tuqwtdv1z53e)](http://www.legislature.mi.gov/(S(uwfotl55b1l0tuqwtdv1z53e)))/mileg.aspx?page=getObject&objectName=mcl-700-2103 > [@](#): > > 700.2105 No taker; effect. > > Sec. 2105. > > If there is no taker under the provisions of this article, the intestate estate passes to this state. [http://www.legislature.mi.gov/(S(uwfotl55b1l0tuqwtdv1z53e)](http://www.legislature.mi.gov/(S(uwfotl55b1l0tuqwtdv1z53e)))/mileg.aspx?page=getObject&objectName=mcl-700-2105 This provision is pretty typical, and in fact it is found in the Uniform Probate Code [Archives & Special Collections ā€¢ Library ā€¢ Penn Carey Law](http://www.law.upenn.edu/bll/archives/ulc/upc/final2005.htm) , which has been adopted, at least partially, by around 20 states: [http://estate.findlaw.com/estate-planning/probate-court-laws/estate-planning-law-state-probate.html](http://estate.findlaw.com/estate-planning/probate-court-laws/estate-planning-law-state-probate.html) Assets that are subject to survivorship provisions like bank accounts (if they are set up correctly) and real estate (ditto) will not generally pass through the estate. ---
**Author:** ![Wee\_Bairn](https://avatars.discourse-cdn.com/v4/letter/w/90db22/32.png) [@Wee\_Bairn](https://boards.straightdope.com/u/Wee_Bairn)\ **Post date:** [January 9, 2008, 4:24pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/12 "2008-01-09T16:24:36Z")
Jesus, you mean my fucking parents who I have nothing to do with could come in and take money over a SO? What the fuck? ---
**Author:** ![Wee\_Bairn](https://avatars.discourse-cdn.com/v4/letter/w/90db22/32.png) [@Wee\_Bairn](https://boards.straightdope.com/u/Wee_Bairn)\ **Post date:** [January 9, 2008, 4:28pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/13 "2008-01-09T16:28:34Z")
Thanks all, and one more question- does someone actively go out and search for assets of someone who dies- like could I just tell the SO if I die, hereā€™s my bank card, take money out as needed till it runs dry, or would someone make the connection that Iā€™m dead and freeze the account, assuming no one asks them to? ---
**Author:** ![Mangetout](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mangetout/32/19_2.png) [@Mangetout](https://boards.straightdope.com/u/Mangetout)\ **Post date:** [January 9, 2008, 4:29pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/14 "2008-01-09T16:29:40Z")
This is probably one of those occasions where it would be useful to specify where in the world you are asking the question from. ---
**Author:** ![Wee\_Bairn](https://avatars.discourse-cdn.com/v4/letter/w/90db22/32.png) [@Wee\_Bairn](https://boards.straightdope.com/u/Wee_Bairn)\ **Post date:** [January 9, 2008, 4:32pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/15 "2008-01-09T16:32:13Z")
[QUOTE=Mangetout] This is probably one of those occasions where it would be useful to specify where in the world you are asking the question from. [/QUOTE] Touche- US and A, at the moment Northeast TN. ---
**Author:** ![TJVM](https://avatars.discourse-cdn.com/v4/letter/t/b38774/32.png) [@TJVM](https://boards.straightdope.com/u/TJVM)\ **Post date:** [January 9, 2008, 4:33pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/16 "2008-01-09T16:33:52Z")
The intestate succession laws in Texas (and I think other states) provide for property to pass to extended family if you have no immediate family. This would include, typically, your grandparents and their descendants (aunts and uncles, cousins, cousinsā€™ children), or possibly even more distant relatives. I suspect that most people have some family, somewhere, when they die. Incidentally, distant relatives who inherit property through intestate succession laws are sometimes called ā€œlaughing heirs,ā€ in reference to the idea that they laugh all the way to the bank after inheriting property from someone they didnā€™t even know. ---
**Author:** ![Gfactor](https://avatars.discourse-cdn.com/v4/letter/g/9de053/32.png) [@Gfactor](https://boards.straightdope.com/u/Gfactor)\ **Post date:** [January 9, 2008, 4:34pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/17 "2008-01-09T16:34:53Z")
[QUOTE=Wee Bairn] Jesus, you mean my fucking parents who I have nothing to do with could come in and take money over a SO? What the fuck? [/QUOTE] > **[Living Together](https://books.google.com/books?id=Fk-AolTdMJQC&pg=PT147&lpg=PT147&dq=living+together+inherit&source=web&ots=bl1XDVj0fJ&sig=6EvezJx3eiL3RPJ_q3OrvukJf9M)** > > This definitive guide for unmarried couples has been completely updated to reflect legal changes in common law marriages, property and debts, tax rules, insurance, medical care, public benefits, pre-marital agreements, alimony, estate planning and... ---
**Author:** ![Gfactor](https://avatars.discourse-cdn.com/v4/letter/g/9de053/32.png) [@Gfactor](https://boards.straightdope.com/u/Gfactor)\ **Post date:** [January 9, 2008, 4:40pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/18 "2008-01-09T16:40:57Z")
[QUOTE=Wee Bairn] Thanks all, and one more question- does someone actively go out and search for assets of someone who dies- like could I just tell the SO if I die, hereā€™s my bank card, take money out as needed till it runs dry, or would someone make the connection that Iā€™m dead and freeze the account, assuming no one asks them to? [/QUOTE] Why not just put the SO on the account? I mean itā€™s one thing to just not think about it, but if youā€™re thinking about it, why not do a simple will or put the SO on the account? Then you donā€™t have to worry about workarounds. The book I linked in my last post has forms. ---
**Author:** ![pravnik](https://avatars.discourse-cdn.com/v4/letter/p/8edcca/32.png) [@pravnik](https://boards.straightdope.com/u/pravnik)\ **Post date:** [January 9, 2008, 4:44pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/19 "2008-01-09T16:44:50Z")
[QUOTE=Wee Bairn] Jesus, you mean my fucking parents who I have nothing to do with could come in and take money over a SO? What the fuck? [/QUOTE] If you die intestate, yep, thatā€™s quite often what happens. Good reason to get your will made today, no? And my rates are reasonable, too! (Just kidding, get a lawyer in your jurisdiction to write up your will.) ---
**Author:** ![Yllaria](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/yllaria/32/3452_2.png) [@Yllaria](https://boards.straightdope.com/u/Yllaria)\ **Post date:** [January 9, 2008, 5:00pm UTC](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856/20 "2008-01-09T17:00:09Z")
[QUOTE=Wee Bairn] Thanks all, and one more question- does someone actively go out and search for assets of someone who dies- like could I just tell the SO if I die, hereā€™s my bank card, take money out as needed till it runs dry, or would someone make the connection that Iā€™m dead and freeze the account, assuming no one asks them to? [/QUOTE] Itā€™s only one point of data, but when my uncle died, my mother, who was his executor, had to send copies of his death certificate to his bank, so I donā€™t think that banks are notified when someone dies. Although in a small town, individual bank employees might know. Like Fir na tine said earlier, if your SOā€™s name is on the account, it would revert to them. And I think itā€™s possible to put their name on the account as a beneficiary, so that they donā€™t have access to the account until you die, but it reverts to them automatically once you do. Not wanting money to go to disliked relatives is one of the reasons that people write wills and marry. I can think of reasons not to do the second, but not the first. That said, I really need to update my will. [Next page](https://boards.straightdope.com/t/you-die-and-have-no-family-and-no-will-what-happens-to-money-you-have-in-the-bank/432856.md?page=2)