Don’t Let Your Legacy Get Lost: How Estate Planning Can Help You Avoid Unclaimed Property Pitfalls
Did you know that state governments across the U.S. are currently holding nearly $60 billion in unclaimed property? As we approach National Unclaimed Property Day on February 1st, it’s the perfect time to talk about how you can keep your assets from becoming part of that staggering statistic. Spoiler alert: it takes more than a dusty will or a basic trust. Let’s talk about what it really means to protect your legacy.
Image source: Unsplash
How Does Property Even Become “Unclaimed”?
It might sound wild that billions of dollars could just vanish into state hands, but it happens more often than you think. Here’s how: someone passes away (or becomes incapacitated), and the family is left scrambling to track down everything they owned. Think old bank accounts, retirement funds from long-ago jobs, forgotten insurance policies, uncashed checks, or digital assets with no clear access path. Without a clear, updated record of what exists and where it’s stored, those assets slip through the cracks — and may never be claimed again.
At Nexus Law, we see this happen far too often — families have the best intentions, but when estate plans aren’t regularly updated or detailed enough, important assets can be easily overlooked or, worse, lost entirely. The money that could’ve gone toward college tuition, a down payment, or helping a loved one through a crisis ends up sitting in state accounts, untouched.
Old-School Planning ≠ Modern Protection
Many people assume that creating a will or trust means they’re covered. Unfortunately, that “check the box” mindset leads to a false sense of security. Traditional estate planning often focuses on documents — not on building a strategy that evolves with your life.
Here’s the real problem: most DIY tools or document-only services don’t include an inventory of your assets, which is the #1 way things get lost. So even if you’ve got a legal plan, it might not help your family if they don’t know what to look for or where to find it.
The Real Game-Changer: Asset Inventories + Regular Reviews
At my firm, estate planning isn’t just a one-and-done service. It’s an ongoing relationship. Our process starts with a Life & Legacy Planning® Session, where we’ll walk you through a full inventory of your assets — from the obvious (like your home and savings accounts) to the easy-to-miss:
Life insurance and retirement accounts (especially from old jobs)
Investment accounts and business interests
Personal property with financial or emotional value
Intellectual property
Digital assets like crypto, domain names, and online banking info
In today’s world, digital assets pose a serious risk of being lost. Even if your loved ones know they exist, accessing them can be nearly impossible without the proper documentation. That’s why part of our planning includes making sure those assets are secure and accessible when it matters most.
And we don’t stop there — we help you keep your inventory updated over time with regular reviews, so as your life changes, your plan evolves with you.
More Than Money: Preserving What Actually Matters
There’s one more piece many people overlook: not all assets are financial. Some of the most meaningful things you’ll leave behind — like family photos, music collections, emails, journals, or recipes — can be lost just as easily without proper planning.
Through our Life & Legacy Interview process, we help you document your values, family traditions, and personal memories so your legacy lives on — not just in dollars, but in heart.
Because here’s the truth: estate planning is the most loving thing you can do for your family. It takes the pressure off your loved ones, eliminates guesswork, and ensures your life’s work doesn’t disappear into the unknown.
Ready to Protect What You’ve Built?
If you want to make sure your assets (and your legacy) are protected, let’s talk. As a Personal Family Lawyer® firm, we don’t just draft documents — we empower you to make the best decisions for your life and your loved ones.
Click here to schedule a free 15-minute consultation and get started:
This article is a service of Sulbha Rai Sankhla, at Nexus Law. We help you get more financially organized than you’ve ever been and make the best decisions for your future — not just through legal documents, but through a planning process that actually works.