What happens to bank account after somebody dies and has no family ?

Question

a neighbor died a couple of years ago and I've been taking care of her property since then. I know she has no family and nobody has ever even come by to handle any of her affairs. I know she had a lot of savings in multiple banks. The fact that nobody has inquired about these accounts leads me to believe that there really is nobody. she has told me before she died that she had no family left, so that just confirms it. I have done evrything i can to try to find somebody but to no avail. any advice would be greatly appreciated.

Answer 1

Well it goes to estate if it's not a POD account (payable on death). Otherwise, if there is no will it goes to the estate and goes down the pyramid of family members. She has some family somewhere, whether it is neices or nephews or aunts/uncles, grandparents. The money would go to a family member. If no family member stepped up it would go to the state where all the other unclaimed money sits. Good for them because it just makes them (the state) interest off the money.

Answer 2

If she didn't leave a will naming someone to inherit, then generally the estate goes to the state government after some period of time.