In the old days relatives often found a shoe box of share and savings certificates when people died.
Now our savings live in cyberspace. So what happens to that money should you die without telling your family about it? How do families know you had that investment or life insurance?
Organisations that carry out business in New Zealand are required to report inactive accounts under the Unclaimed Money Act 1971. That could include a bank, insurance companies, energy provider, accountant, lawyer, rental agencies or employer.
Any money that hasn't been touched must be paid to the Inland Revenue Department.