Handling deceased owners' funds with care: BC Unclaimed's process

At BC Unclaimed, we have a been tasked with the unique job of keeping unclaimed money safe forever, even if the person who owns it has passed away. In this blog post, we'll explain how BC Unclaimed deals with funds when the rightful owner has passed away, who can make a claim for the money, and what documentation is required to issue payment to the rightful owner’s estate.

Please note, the following information does not apply if BC Unclaimed has told you the balance we are holding in the name of your deceased relative is from an intestate estate handled by the Public Guardian and Trustee of BC.

Who can claim funds for someone who has passed away?

The only person who can start a claim for money on behalf of someone who has passed away is their executor or administrator. BC Unclaimed exclusively works with these individuals because they are the only people legally entitled to deal with the owner’s funds. This ensures the money goes back to the deceased owner's estate. BC Unclaimed cannot give the money directly to family members.

If you happen to see your deceased relative's name on our website, remember that being a relative doesn't automatically mean you get the money. Instead, you should contact the executor or administrator assigned to manage the estate. They can either follow our instructions to start the claim or reach out to us directly for help.

Continue reading if you are the executor or administrator and you’d like to know what you’ll need to submit to claim your relative’s funds.

What are BC Unclaimed’s documentation requirements for deceased owners?

For probated estates:

The executor or administrator will need to provide the following documentation to claim a balance on behalf of someone’s estate:

• Documentation connecting the owner to their funds (this varies depending on the type of money held in their name):

• Certified true copy of the owner’s death certificate;

• Certified true copy of the Grant of Probate or Grant of Administration officially naming the executor or administrator of the owner’s estate;

• Two pieces of government-issued ID belonging to the executor or administrator.

If the unclaimed balance exceeds $1000, BC Unclaimed will require certified true copies of the death certificate and grant sent by mail. You can refer to either the letter or email correspondence BC Unclaimed has sent with the details of the unclaimed funds to determine the property’s approximate dollar value.

For unprobated estates:

Sometimes an estate does not meet the criteria to require obtaining a Grant of Probate or Administration. If you are the executor or administrator for an estate that did not require probate, then please provide our office with the following:

• Documentation connecting the owner to their funds (this varies depending on the type of money held in their name):

• Certified true copy of the owner’s death certificate;

• Certified true copy of their Last Will and Testament naming you as their executor;

• A document proving you acted as the executor (e.g., a CRA tax document addressed to the estate in your care);

• A signed letter explaining why the estate was not probated;

• Two pieces of your government-issued ID.

If the unclaimed balance exceeds $1000, BC Unclaimed will require certified true copies of the death certificate and grant sent by mail. You can refer to either the letter or email correspondence BC Unclaimed has sent with the details of the unclaimed funds to determine the property’s approximate dollar value.

For unclaimed court funds:

In cases where BC Unclaimed is holding unclaimed court funds for a deceased person, the executor of the estate is responsible for making an application to the court. The courts may have their own requirements to prove you are authorized to make an application on behalf of the estate. Once the court's order is received, BC Unclaimed will issue payment accordingly.

Why is BC Unclaimed's process so strict?

We understand that the strict rules about documents might seem hard, but they have an important reason. BC Unclaimed is committed to making sure that the money goes to the right people—the ones who are legally allowed to handle the estate. We also want to make sure that when we issue the cheque, the executor can easily cash it or open a bank account for the estate. Following these rules helps avoid any unnecessary delays or problems.

BC Unclaimed's main goal is to make sure that unclaimed money is given back correctly and fairly. We think the legal steps and documents are important to protect everyone involved. If you're dealing with unclaimed money from a loved one who passed away, we're here to help you through the process. Feel free to contact us with your questions and concerns, and we'll guide you every step of the way.