Written by The Law Firm of Christopher W. Dumm
Escheat, pronounced \ is-ˈchēt , ish-ˈchēt\, refers to a government’s right to take ownership of estate assets or unclaimed property. It is what happens to your life’s work if you die without legal heirs and do not designate any beneficiaries in your Will. It is also the last thing most folks want to happen to the assets they have labored to acquire and so it is important to know how escheatment works and how to avoid it through secure estate planning.
Read the full article from the Law Firm of Christopher W. Dumm here.