Ten Minute Treasure Hunt
States have Billions in Lost Money -- Some of It Might Be Yours
It’s time for your annual “Trick or Treat” visit to the state Controller’s web site to look for bank accounts, investments, security deposits etc that you lost track of years ago. It is remarkably easy, and can actually be fun. In less than 10 minutes, I found at least 5 of my clients on the list!
All states have “unclaimed property” laws that require unclaimed property to be turned over to the state after a specified period (usually 7 years). The states then hold this money, indefinitely, until someone turns up with a valid claim. Most states offer searchable web sites to help reunite owners with their lost funds.