Wednesday, October 24, 2007

Seed Money Waiting for You?

So let's talk about Unclaimed Property / Abandoned Property / Escheat. Or could it be serious seed money? If you've been visiting now and then, you might know I work with taxes, etc. Unclaimed property is one of etc.'s.

This is that paycheck, deposit, refund or other check (or 15 paychecks) that you might have forgotten to cash (??). US businesses have to turn these funds over to the states where they keep them safe until the owners show up. And there might be something for you! Go to this NAUPA site where you can use the Missing Money website or go directly to various states. Search broadly see what you can find!

Oh yes, don't forget inactive bank accounts, dividend checks, stock shares, bonds and forgotten safety deposit boxes (but your goodies may have been sold and you are left with the proceeds).

Property usually goes to the state of last known address the business had for you, but if the address is unknown, then it probably went to the company's state of incorporation. So, search broadly! Maybe you moved around, maybe your address was entered wrong, maybe records were lost, etc. Again, search broadly.

I've seen some hefty checks go off to the states even after trying to locate the owner. Sure, many of them are quite small, but why not do some searching. And if you have any questions about this post or what you find, send me an e-mail. Who knows, you might have those spring seeds covered, and more!

1 comment:

Carol said...

Thanks for the tip. I've searched in my state's unclaimed web site several times for myself and family members, and so far nothing. But you never know, so I think I'll go and check again!