Understanding how to find unclaimed money and property is something that could net you a windfall of cash. All states have unclaimed money databases where you can search and determine if you have unclaimed money waiting for you to claim. This money can come form a wide variety of sources, from lost bank accounts to unclaimed inheritance.
The Good Morning America show has been running features all week showing people how to search for unclaimed money which may be owed to them. you do have to be careful as there are some places that will promise to find unclaimed money owed to you for a fee or percentage of the unclaimed cash they locate. this is not something you need to do. every state has a procedure for claiming unclaimed property and none of them cost you money. most states even have an online search database you cna use to find out if you may have unclaimed money waiting for you. We have a complete list of the unclaimed property websites here.
Once you determine that you may have unclaimed money in a state then normally you complete a form and claim the unclaimed cash. You do have to prove that you are entitaled to the unclaimed property and jsut having the same name as the person listed on the unclaimed website is not enough. You must show that it is actually your money. Most of the times this is not all that difficult and most people do not hink they would have any unclaiemd money since they are careful, but you have to think about how this unclaimed moeny gets their in the first place.
for example suppose you bought some treasury bonds when you where young, or perhaps your grandmother bought some for saving bonds for you If they can not contact you because your grandmother passed away or moved, then after a time that money becomes unclaimed and the managing institution turns it over to the state where you lived. It then goes into the pot with all the other unclaimed money and property and sits there until its claimed. This has happened millions of times and there are millions upon millions of unclaiemd money sitting in these states coffers. They would lke to give it back, they just don’t know who to give it to.
Another scenario where you may have unclaimed money waiting is in the event that a distance relative of your’s passed away without a will or any close relatives. Any property they have goes into escrow and then is transferred to the unclaimed money coffers. In this situation you will have to prove you are a relative, but a lot of times these state workers are not very efficient so they can be convinced. I’ve known a lot of people who have gotten a lot of unclaimed money using these techniques. You never know until you try and with 10% of the workforce out of a job, what else do you have to do if you are one of those 10%. Good luck locating your unclaimed money and make sure you spend a lot of time on this site as we have tips for just about any situation and how to locate unclaimed money such as a lost 401k account which you may be owed.