Do You Have Unclaimed Money?

WhatWeDoMain208pxHave you ever checked old clothing to find money in the pocket!  I once found $20 in the pocket of my swimming trunks. What a feeling, discovering money you didn’t know you had.

Your state may also have some “found” money that belongs to you too.

Since I live in Kentucky, and because I’m writing this article, I decided to go the Kentucky Treasury site. Once I got there I clicked on the unclaimed property tab and did a search for my last name.

Voila! I have some Unclaimed Property! I could not believe it. So I called them, and they sent me a form to get my prize.

Here’s how it works. When property, like bank accounts, uncashed paychecks, bonds, utility deposits and contents of safe-deposit boxes goes unclaimed for a period of time and the owner cannot be found, it gets turned over to your state. Then the state acts as babysitter until the owner or an heir comes forward.

Most people aren’t aware that they have this property. I’ve given the link for Kentucky. If you live in another state, the website of the National Association of Unclaimed Property Administrators, or NAUPA, has links to each state’s database.

Each state is a little different in its process. Kentucky’s Treasurer is mailing me a claim form and will let me know the amount in the letter. It’s over $100! How exciting! Better than the twenty bucks in my chlorine soaked shorts.

You may want to check these databases every year. You may have a long-lost aunt that left you some big bucks. You never know.

Oh, and if you do have some unclaimed money, give me a call so I can help you invest it!