Author Topic: Looking for an old Roth  (Read 3824 times)

nic57

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Looking for an old Roth
« on: May 04, 2024, 12:00:12 PM »
When I was young and had my first summer jobs, my mom put the money into a Roth or something for me. She passed away a few years ago, and now I have no idea where to find it. Any tips or suggestions of how to find it?

secondcor521

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Re: Looking for an old Roth
« Reply #1 on: May 04, 2024, 12:35:15 PM »
Assets like that which get lost or disconnected from the owner are usually turned over to a department in the state government.  The term is "escheat".

You can probably find it by googling for "escheat + <state name>" of the states where you or your Mom lived during that time frame.  Here is what my state's site looks like:  https://yourmoney.idaho.gov/.  Once you get to the state site, you can put in your first and last name and then look at the results.

There are companies that will do this for you but they charge a fee or percentage.  I think it's simple enough to do for yourself.

While you're at it, you could look for lost assets of your Mom's as well by putting in her name.  Any assets of hers that you found would probably need to go through probate to get distributed (presumably to you and any other heirs or beneficiaries she had).

You could also check with other family members or if you know who served as her executor you could ask them.

If you know where she kept her investment accounts, you could call them and ask if they have a Roth in your name - they'd just need your name, date of birth, and SSN.  If you're currently under the age of majority in your state, you may need help from your custodian / parent / guardian.

crocheted_stache

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Re: Looking for an old Roth
« Reply #2 on: May 04, 2024, 05:45:07 PM »
List of escheat websites by state: https://www.usa.gov/unclaimed-money

It's wise to search your mom's name, too, not just for the IRA but also for whatever other money might have been forgotten. Refunds and even paychecks sometimes fail to reach their destination. It's by state, so if you or your mom lived in multiple states along the way, search all relevant states' websites.

The search, at least, shouldn't take long. I found but chose not to pursue an amount owed to a late relative, because the amount was not worth the time to claim it.

nic57

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Re: Looking for an old Roth
« Reply #3 on: May 05, 2024, 05:44:17 PM »
Thank you!!

 

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