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how to find bank accounts

Discussion in 'Off Topic [BG]' started by rokkitt, Sep 23, 2008.


  1. rokkitt

    rokkitt

    Jun 7, 2007
    bronx, nyc
    a friend of mine has an elderly person and they are trying to get their financial affairs in order.


    so, the first step is to find al lthe bank accounts


    but, the elderly person cant remember all the accounts...(must be nice, right?)






    so, is there a way to find out about a persons bank accounts that are "out there somewhere"?


    al
     
  2. tplyons

    tplyons

    Apr 6, 2003
    Madison, NJ
    As far as credit accounts and whatnot, a credit report would help.

    If not, hope that he/she gets statements for everything.
     
  3. MakiSupaStar

    MakiSupaStar The Lowdown Diggler

    Apr 12, 2006
    Huntington Beach, CA
    Most of them will send a statement periodically. Where does he put those?
     
  4. rokkitt

    rokkitt

    Jun 7, 2007
    bronx, nyc
    but a credit report wont show bank accounts, like savings, checking and stock accounts


    al
     
  5. peterbright

    peterbright

    Jan 23, 2007
    On The Bayou
    check all the old mail
     
  6. HomeBrewTJ

    HomeBrewTJ

    May 16, 2004
    Lafayette, IN
    Give me his/her social security number and birthdate and I'll see what I can do...
     
  7. rokkitt

    rokkitt

    Jun 7, 2007
    bronx, nyc
    tj, ygpm
     
  8. snappytom

    snappytom

    Aug 17, 2005
    ChicagoLand
    I have done this for a family member. You need to look at all of the mail that comes in. My assumption is that being elderly they are not online and get statements mailed to them. We are coming up on the end of a quarter, so any other accounts (brokerage, mutual funds, etc..) should be sending out statements soon too. It may take a couple of months for all the info to become known.

    Another thing that happens is that accounts go dormant from lack of activity. Not sure about NY, but in Illinois there is a search website and the claim process is easy, just a bunch of paperwork.

    Getting the information should be no problem. But you cannot do anything with it unless you have power of attorney. Do not pay a lawyer to draw this up, get the standard state form, fill it in and get it notarized (once again, NY laws may be different). Once you have that be prepared to do the same at a bank as they often have their specific forms and procedures (some do, some don't). As long as you have the right paperwork and appear to be acting in the best interest of the person you represent, no one will question your activity.
     

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