Probate & Estate Administration · DuPage County, Illinois
Steady guidance for executors and families through Illinois probate, from filing to final distribution.
More estate assets get lost than most families realize. The Illinois State Treasurer holds over $3 billion in unclaimed property — and a meaningful portion belongs to people who’ve died without their executors knowing. Old 401(k)s from former jobs, dormant bank accounts, forgotten utility deposits, uncashed insurance proceeds, dividend checks that piled up.
We help executors and administrators search for and recover these assets as part of comprehensive probate representation. Asset recovery is part diligent investigation, part knowing where to look, and part navigating the procedural steps required to claim found property on behalf of the estate.
We systematically search the major databases and overlooked sources.
Old checking, savings, and CD accounts at banks the decedent stopped using. Eventually escheated to state treasurer.
Investment accounts at firms the decedent moved away from. Sometimes substantial value sitting unclaimed.
Old policies from former employers, group plans, or individual policies the family didn’t know existed.
Pensions, 401(k)s, and retirement accounts at past employers. Often the largest single missing asset category.
Illinois State Treasurer holds billions in unclaimed funds — utility deposits, dividend checks, insurance refunds, more.
Safety deposit box contents, items in storage units, valuables in homes the family doesn’t have access to.
Review all available records — tax returns, mail, account statements, employer history. Often reveals leads.
Illinois unclaimed property, federal Treasury, MIB (Medical Information Bureau for life insurance), and other major databases.
Letters to former employers, banks, brokerages, and insurance companies. Many hold property quietly until claimed.
Navigate the specific claim procedure for each holder — each has its own forms, documentation requirements, and timelines.
Executors have a legal duty to identify and inventory ALL estate assets. Missed assets can mean executor liability later.
Missing assets cheat beneficiaries out of what they’re entitled to. Recovery directly benefits them.
Some unclaimed property eventually escheats permanently to the state. Acting promptly preserves recovery.
Late-found assets after the estate closes create messy tax and re-opening issues. Better to find them during initial probate.
Asset recovery fees are typically modest compared to the value of assets located. Most cases recover multiples of the fee.
Asset recovery happens alongside regular probate work. No separate process or additional administrative burden.
From our Villa Park office, we represent clients across DuPage County and the western suburbs of Chicago.
Start with the Illinois State Treasurer’s ICASH unclaimed property database (free public search at icash.illinoistreasurer.gov). We also conduct systematic searches across federal databases, former employer records, and old correspondence. Most searches turn up at least some assets the family didn’t know about.
After dormancy periods (typically 3-5 years depending on asset type), unclaimed property in Illinois transfers to the State Treasurer. Heirs can still claim it — there’s no time limit on most claims — but you have to know about it and file. Some federal assets may escheat to the federal government with shorter timeframes.
Not legally required — anyone can search ICASH and file claims. But assets owed to a deceased person require establishing legal authority to claim them (typically Letters Testamentary or Letters of Administration from probate). Coordination with the probate case matters.
When part of comprehensive probate representation, asset search is included in our standard probate fee. Standalone asset recovery for closed estates or specific search needs is quoted at consultation based on scope.
Possible but more complicated. The estate may need to be ‘reopened’ to claim the asset properly. Some smaller assets can be handled through simpler procedures (small estate affidavits). Better to do a thorough search before closing probate.
Yes — if found assets push the estate above Illinois ($4M) or federal ($13.99M) estate tax thresholds, returns may need to be amended. We coordinate with accountants when significant late-found assets surface.
Free consultation explains what we’d search and the realistic likelihood of finding something. Most estate searches turn up at least something the family didn’t know about.