Sunset: The Startup Helping Families Close Accounts After a Death

The grief of losing a loved one is difficult enough without the added burden of managing their financial affairs. Sunset is a startup designed to ease that process, offering a solution for families trying to track down and manage the financial assets left behind. Founded in 2024, Sunset helps people locate bank accounts, retirement accounts, investment accounts, real estate holdings, and more after a death. The company then takes care of closing those accounts and moving the funds into a Sunset estate account, where they can be safely managed.

The journey of dealing with the financial aftermath of a death can be long, drawn-out, and exhausting. From searching for forgotten accounts to dealing with banks, creditors, and insurance companies, the task can take months or even years. For many, this process happens at the same time as their grieving, making it even more challenging. With Sunset, however, the heavy lifting is taken off the shoulders of the family members, allowing them to focus on what truly matters—healing.

Why Was Sunset Created?

The idea for Sunset was born out of a deeply personal experience. Co-founder Stephen Walter, who had already faced the exhausting task of managing financial matters after the death of his father-in-law, was struck by how overwhelming the process was. The task of tracking down accounts, managing debts, and ensuring assets were properly accounted for took an immense amount of time and energy. He realized that if this was his experience, it was likely shared by many others.

That insight led to the creation of Sunset, a solution designed to take away some of the stress and logistical challenges families face after a loss. By automating much of the financial discovery process and offering a centralized account management system, Sunset aims to streamline the complex and emotionally charged task of managing a loved one’s financial affairs.

What Services Does Sunset Offer?

Sunset offers an array of services designed to simplify the process of finding and securing financial assets after a death. The company is constantly improving and expanding its offerings, ensuring that it covers a wide range of financial accounts. Some of the main services Sunset provides include:

1. Bank Accounts: Sunset helps locate and close a variety of bank accounts, including checking accounts, savings accounts, CDs, and more. By searching both public and private databases, the platform ensures that all possible accounts are uncovered, no matter where they might be.
2. Retirement Accounts: Whether it's a 401k, IRA, annuity, or other retirement-related accounts, Sunset will track these down, close them, and transfer the funds to the Sunset estate account.
3. Debts: Managing debts after a death is another challenge that Sunset can assist with. The company helps locate outstanding mortgages, personal loans, credit card balances, and other liabilities, ensuring they are taken care of and that the loved one's estate is settled properly.
4. Real Estate and Vehicles: Sunset helps identify and manage any real estate or vehicle holdings, both personal and investment-related. This includes transferring ownership and making sure all related documents are handled.
5. Investment Accounts: Sunset also helps with finding and managing investment accounts, including mutual funds, index funds, stocks, and bonds. The platform searches relevant financial reporting from investment funds and brokers to ensure that no assets are overlooked.
6. Other Assets: The service can also help identify and manage other types of assets, such as life insurance, unclaimed property, business ownership stakes, and health savings accounts (HSAs).

By providing a comprehensive solution that covers a wide range of financial assets, Sunset makes it easier for families to navigate the often overwhelming task of closing out the financial affairs of a loved one.

How Does Sunset Work?

Sunset’s process for finding and closing financial accounts is designed to be as seamless and efficient as possible. Here's how it works:

1. Account Discovery: Using a combination of public and private databases, including financial reports from banks, investment funds, the IRS, and other relevant sources, Sunset conducts a thorough search to identify any accounts, debts, or assets left behind by the deceased. The platform’s algorithms match available data to the deceased’s personal information to ensure accuracy.
2. Automation of Account Closure: Once a match is found, Sunset automates the process of closing the accounts. This means that once the accounts are identified, there is no need for family members to spend hours or months dealing with each individual institution.
3. Funds Transfer to Sunset Estate Account: After the closure of the accounts, Sunset moves the funds into a Sunset estate account. This account is specifically designed to securely manage the funds while they are being distributed or transferred according to the wishes of the deceased or their family.
4. Transparency and Security: Throughout the entire process, Sunset ensures transparency, providing updates and keeping families informed every step of the way. The platform is built with robust security measures to protect sensitive financial information.

By taking care of everything from account discovery to fund transfer, Sunset streamlines the often complicated and emotionally taxing task of managing a deceased loved one’s financial affairs.

How Does Sunset Charge for Its Services?

One of the most appealing aspects of Sunset’s service is that it is free for customers to use. The company does not charge fees for locating accounts, automating closures, or transferring funds. Instead, Sunset generates revenue by earning interest on the deposits that sit in the Sunset estate account while they are being managed.

This model aligns Sunset’s interests with those of its customers: the faster and more efficiently Sunset can locate and close accounts, the sooner the funds are moved into the estate account and begin earning interest. It’s a win-win situation for both Sunset and the families they help.

This unique approach to pricing ensures that the service is accessible to as many people as possible, while also providing a sustainable way for Sunset to fund its operations and continue growing.

Who Are the People Behind Sunset?

Sunset was co-founded by Stephen Walter and Kaela Worthen, both experienced entrepreneurs with extensive backgrounds in tech and product development.

Stephen Walter, the Founder of Sunset, brings his personal experience with managing financial affairs after a loved one’s death into the heart of the company’s mission. His firsthand understanding of the challenges involved in the process is what led to the creation of Sunset.

Kaela Worthen, the co-founder, has an impressive resume in the tech industry. She previously cofounded Paintbrush and Imzy, and worked at prominent companies like Podium and Reddit. With her background in product development, engineering, UX, and data science, Kaela brings a wealth of knowledge to Sunset. Her diverse skill set has been essential in shaping the platform into what it is today.

Together, Stephen and Kaela have created a product that aims to solve a real problem faced by many families, ensuring that their personal experiences drive the development of a service that truly meets their needs.

What Makes Sunset Different from Other Solutions?

Sunset’s approach is unique because it combines efficiency with empathy. The platform not only simplifies the process of finding and securing a loved one’s financial assets, but it does so in a way that respects the emotional difficulties involved. Sunset's founders understood that the financial aftermath of a death should not add additional stress to an already painful time.

Additionally, Sunset's all-encompassing approach to asset discovery sets it apart. Rather than just focusing on one type of asset, the platform works across a wide range of accounts, from bank and retirement accounts to debts, real estate, and more. This makes it an invaluable tool for families trying to navigate the often-overwhelming landscape of financial affairs.

The transparency and security of Sunset’s service also distinguish it from other solutions. Families can trust that their loved one’s assets are being handled with care, and they can rest easy knowing that the entire process is being managed by professionals.

How Has Sunset Grown Since Its Launch?

Since launching its beta version a few months ago, Sunset has made significant strides in enhancing its service offerings. The launch of its web app and the expansion of its feature set has made it easier than ever for families to use Sunset’s services. The company is continuing to develop and refine its platform to provide an even more comprehensive solution for families facing the challenging task of managing a deceased loved one’s financial affairs.

Sunset's focus on innovation and customer-centric design has contributed to its early success. The founders' personal experiences and dedication to improving the process have resonated with families, positioning Sunset as a valuable resource in a difficult time.

Conclusion: What Does the Future Hold for Sunset?

Sunset’s mission to ease the burden of managing financial affairs after a loved one’s death is more important than ever. With a growing team and expanding feature set, the company is poised to continue evolving and helping families navigate the difficult process of closing accounts and moving assets.

As Sunset grows and refines its offerings, it will likely expand its services to include even more financial tools and resources to assist families during an already challenging time. In the future, Sunset could become a trusted companion for those managing their loved one’s estate, bringing greater peace of mind to people during one of the most difficult experiences of their lives.