Unclaimed Money - Is some of it yours?
Did you ever have a bank account that you never closed but let go inactive? Have a life insurance policy lapse but not close? These are just a few of the ways that your dollars become unclaimed money. Every year, there are literally billions of dollars abandoned by people just like you. Every state has a department that holds these lost funds just waiting for people to collect each year.
Some examples of unclaimed money and the accounts that they may come from: bank accounts, insurance payments, and dividends from businesses, checking accounts, stocks, utility deposits, and other intangible property. Another area of unclaimed money will come from the death of a loved one and accounts that are never claimed by survivors.
To begin your search, get on your computer. Type in unclaimed money into your search engine and many government agencies and databases will come up for you to start. There are many sites out there willing to help you locate your missing funds. There are definitely ones out there ready to charge you, but there are government based search engines that will gladly help you for either a nominal fee or free! You will need social security numbers and account numbers to verify yourself and that the unclaimed money is truly yours. Make sure that you have all your documents, amounts, and information that they may require of you to verify that you are entitled to this unclaimed money.
There are a lot of ways to prevent your money from becoming unclaimed money! Try these tips: Keep a record of all bank and savings accounts and their amounts. Contact the holder of your accounts at least every five years to record activity. Record all stock certificates and be sure to cash all dividends received. Record all utility deposits, including phone deposits. Respond in writing to any requests for confirmation of account balances with banks, stockbrokers and utility companies. Make sure you notify accounts when you have moved. Cash all checks promptly upon receipt. Investing a fireproof safe to keep all your account information at home is definitely a must for making sure your money doesn’t end up unclaimed money. It is also a good idea to share all your account information with either a lawyer or a friend or family member, that way in the case of something dire happening to you, there is someone else who will be able to make sure your loved ones are taken care of.