Did someone in your family leave you a fortune?

When most people search the BC Unclaimed database, they search for themselves.

But what many British Columbians don’t realize is this: Unclaimed money can span generations. Funds belonging to your parents, grandparents — or even distant relatives who passed away decades ago — may be sitting safely with BC Unclaimed Property Society, waiting to be claimed.

Here’s what you need to know.

Types of funds with deceased owners Sometimes, funds belong to someone who has passed away that were never claimed or distributed as part of their estate. This happens more often than you’d think.

Common examples include:

• Uncashed insurance benefit or refund cheques

• Dormant credit union accounts

• Refunds or cheques issued and mailed to an incorrect address after someone moved

• Unclaimed pension or investment distributions

• Estates that were administered by the Public Guardian and Trustee (PGT) that for various reasons were not distributed. (Intestate funds need to be distributed according to law. A future blog post will go into this in more detail)

After a period of time, funds may be sent to BC Unclaimed under the Unclaimed Property Act to caretake until the owner can be found.

Why does money go unclaimed?

There are many reasons funds don’t make it into the hands of the right person. Sometimes paperwork was incomplete. Other times there is:

• Outdated contact information: Maybe the named owner or beneficiary moved, passed away, changed names through marriage or divorce, or lost touch. If a cheque or notice was mailed to an old address and returned, the holder may have eventually transferred the funds to BC Unclaimed.

• No will (intestacy), no one administered an estate, or next of kin unknown: If someone passed away without a will, or no one took care of the estate, or no family is known, it is possible that not every asset was identified or distributed, leaving some to go unclaimed.

• An amount too small to pursue at the time: Minor balances sometimes weren’t worth pursuing at the time — but years later, they may still be available.

In BC, unclaimed property does not expire and never needs to be forfeited. Funds held by BC Unclaimed are safeguarded indefinitely until the rightful owner or their legal representative comes forward to make a successful claim.

Who can claim a deceased person’s funds?

If you discover funds that still legally belong to the estate of a deceased person you represented or are related to, that no one has yet claimed, you may be able to claim them.

Eligible claimants often include:

• The executor named in a will

• A court-appointed administrator

• A documented beneficiary

• Next of kin (in cases where there was no will and the family tree can be proven)

In most cases, you may need some or all of:

• A copy of the death certificate

• Probate or letters of administration

• Will, if one was made

• Identification and proof of relationship

Each situation is unique, and the documentation required depends on the circumstances of the estate.

How to search for unclaimed family funds

Visit bcunclaimed.ca/search and try:

• Full legal names

• Maiden names

• Middle initials

• Common misspellings

• Old business names

Even small differences can matter. Follow the prompts to inquire about any matches you find.

A meaningful discovery

For many families, finding unclaimed funds is about more than money. A successful claim can:

• Help cover estate expenses

• Offset legal or probate costs

• Support surviving family members

• Provide unexpected financial relief

And sometimes, it simply offers a sense of closure, knowing that a loved one’s affairs have finally been fully resolved.