Frequently Asked Questions
Frequently Asked Questions
What does "unclaimed or lost asset" mean?
The phrase refers to anything owed to you or your family that you are unaware exists. There are a number of reasons you or your family could be owed money you don't know about. The assets could be the result of property, stocks or bonds, insurance policies, royalties, rentals, wages, tax refunds-or a number of other possibilities. By the time we contact you, most assets have been reduced to a monetary figure and are being held by a variety of agencies or parties. Every year, millions of dollars become unclaimed while still being held in individuals' names. In most cases the laws regarding these funds don't require the party holding the assets to make more than a cursory attempt at locating the beneficiary, meaning that without our research that money would go unclaimed.
How did you find me?
How did my assets get lost?
Assets may be the result of inheritance, lost payments or returns on property, businesses or insurance policies, etc., purchased years ago by a member of your family. Over time, mistakes get made on names and addresses and people move, get married, use nicknames, or change their names for other reasons so that it becomes hard for entities to locate beneficiaries. In some cases laws allow entities to invest the assets and eventually absorb those that remain unclaimed, there is little incentive for the asset holder to make more than a cursory attempt at locating beneficiaries.
Who has my lost assets?
Any number of different entities could be holding your assets. Supreme Capital usually locates lost or unclaimed assets being held by entities other than state abandoned property offices, so they cannot be located through an Internet search. Once you return the completed paperwork, a claims professional will be able to provide more specific information.
How do I get started?
If we have already contacted you, the first step is to complete and return the contingency agreement. This agreement spells out the terms and conditions in easy-to-understand terms and provides Supreme Capital with the authority to act on your behalf on claim related issues, while working on the claim. After we receive all the required paperwork, a claims professional will contact you with any further needs and keep you up to date on the status of your claim.
How long will the process take?
That can vary depending on the type and complexity of your claim or the entity holding the assets. Normally for our company, the claims process takes two weeks to complete once the claim is filed, sometimes much sooner. Then, in thirty days after the claim is approved, we disperse the funds to you via overnight mail. Some cases can take several months to process, all depending on specific information on every individual claim. After receiving all the necessary paperwork, your claims professional will be able to provide a more accurate timeline based on your particular claim.
We will do everything possible to expedite your claim, but in many cases there are no laws mandating when asset holders must release the assets, so the asset holder dictates the length of your wait. Remember, we operate on a contingency-fee basis and require no payment until your assets are returned, so it is in our best interest to move as quickly as possible.
Is there a time limit to claim any lost or unclaimed funds?
There is no easy answer to that question. Every claim is unique, and asset holders are regulated by a variety of different laws. Assets held by the State Abandoned Property Offices usually have either lengthy or no time limits, but those are not the assets we normally locate and recover. Many assets we locate have fairly narrow time windows in which you can file a claim, and some asset holders are allowed to absorb the unclaimed asset after that time period expires. When we locate assets and contact potential claimants, we inform them of any relevant claims deadlines. Whether there is a deadline or not, the claims process can be lengthy, so we advise that you return all your paperwork as promptly as possible. The sooner we are able to recover your assets, the sooner you will be able to put them to work for you.
How does Supreme Capital make money in this process?
We work on a contingency-fee basis with all terms spelled out in a written contract signed by Supreme Capital. We advance all expenses incurred in the claims process, so you pay no upfront costs. Once assets are recovered, we deduct any expenses incurred from the total and you pay us the percentage from the remaining amount, as agreed upon in our written contract. Deducting expenses from the total amount recovered gives you added assurance that we will keep those costs to a minimum. Most importantly, in the uncommon instance that we are unable to recover your assets, we absorb all expenses and you owe nothing.