State governments have become more assertive in taking control of unclaimed cash. These unclaimed assets can be in the form of paychecks not cashed, life insurance policies uncollected, or forgotten bank account balances.
There are some states that have attempted to notify owners of their property using state fair booths and website sources, while others are doing very little.
State lost-and-found programs have been growing rapidly for more than 10 years. Every state keeps a list of those whose property it has claimed. California alone has 28.5 million people on its list.
Most of the people on these unclaimed property lists have no idea that they are owed assets. The unclaimed money could have come from an inheritance they were awarded, forgotten property left in safe deposit boxes, and even retail gift cards that were unused. Most people are due to receive less than $100, though some amounts are much higher.
To find out if you have uncollected money use the resources below:
- A national database – missingmoney.com – has been established by the National Association of Unclaimed Property Administrators.
- The association website also provides contact information for unclaimed property programs in every state via this link: unclaimed.org