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8 Billion is Being Held. Is Some Of It Yours? Trying to settle an estate can be very difficult if you aren't sure where all the bank accounts are, or even if the person owned stock or a safety deposit box. Every state has an office that collects money that has been abandoned, forgotten, or left unclaimed, including: |
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Savings and checking account
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Un-cashed payroll or cashiers checks
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Money orders and travelers checks
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Certificates of deposit
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Paid-up life insurance policies
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Health and accident insurance payments
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Stock and dividends and much more
According to reports, state agencies across the U.S. may be holding over $8 billion dollars in abandoned money. Although rules vary from state to state, generally after two or more years without activity on an account, the bank will try to contact you. If their efforts fail, the property is considered abandoned and transferred to the state of your last known address. To locate funds, contact the unclaimed property office in the state (usually part of the state treasurer's department) where you or your benefactors have lived or conducted business. Most state agencies have Web sites and many have searchable databases. You can contact the National Association of Unclaimed Property Administrators, P.O. Box 7156, Bismarck, ND 58507 www.unclaimed.org