Unclaimed Property Blog

The federal agencies who are managing the burden of these unclaimed assets have realized that in order to create a desire in the minds of people, they need to be educated about the importance of unclaimed money. This made the federal agencies join hands with the government in designing different awareness campaigns and programs to educate people about the importance of reclaiming lost property.

The government has developed several tools to assist people in getting necessary information for carrying out the search process. The process of applying for reclaiming the assets was one of the most difficult processes, but now, due to the constant efforts of the authorities reclaiming process is much easier.

Every year, billions of dollars are reported unclaimed and abandoned by the State Treasury Department of the United States. $16 billion in savings bonds, $153 million worth of IRS income tax refunds, $10 billion in lost shares, bonds, and mutual funds, $133 million in unclaimed pension benefits, and this staggering list goes on. With such a large amount hanging freely and up for grabs, it sparks the curiosity of many if they are entitled to even an infinitesimal amount from these billions of dollars worth of assets. If you plan on performing an unclaimed funds search soon, here are some things to contemplate on.

The value of every dollar has never been as important as today. With the global recession on a widespread scale and the effects of an economic downfall continuing to plague both consumers and commercial players, people have resorted to squeezing every cent they have in their wallets and pockets to survive such rough times. Sadly, many people still manage to unknowingly leave and abandon a portion of their assets.

What is unclaimed property? It is any property that has a title attached to it. It may or may not have a positive value. Examples of these are old bank accounts, forgotten investment accounts, inherited property in which the title has been lost, forgotten insurance accounts, un-cashed refund checks from long lost or forgotten accounts, etc. If you change jobs and forget to roll over your IRA, that is unclaimed money. So how do you find all this money?

The journey to financial stability is, nowadays, a roller coaster with more downs than ups. Because of the continuing global recession, many people have found it nearly impossible to keep their personal finances intact. This is especially true for average wage employees and low-income families. Nonetheless, there are ways to increase finances that remain covert and unexplored by many people, one of which is performing a search for unclaimed cash.

Anyone 18 years of age or older you could be entitled to unclaimed heir money and not even know it.

Often when a person passes away they have a will. The will dictates who gets what but there are several sources of money that may be lying around unused by the rightful and legal owner because they do not know how to claim deceased relative money or even where to look.

Unclaimed heir money can come from a huge variety of sources.

In a recent report related to the unclaimed money problems in the country, it was mentioned that almost 90% of the U.S. families have somebody who has failed to reclaim their lost funds or assets. The governors and the governing body of larger states like California and New York are mulling to utilize the unclaimed funds for state development programs.

Finding unclaimed cash can be very easy with the right techniques and the right tools at your fingertips. While some people think that searching for and successfully finding unclaimed cash can be tough, the truth is you can likely find plenty of unclaimed cash simply by doing an easy unclaimed money search.

Today, our unclaimed money search experts are going to share some places to find unclaimed cash, places where money can be quickly found with an easy unclaimed money search!

Bank Accounts And Safety Deposit Boxes

Banks are the most common and frequently utilized financial institution in a person’s life. It is an unfortunate fact that a majority of the unclaimed funds are because of the abandoned bank accounts and some of these are never claimed back. If you are looking to claim back your lost money which is lying in some bank, the best place to start will be the Federal Deposit Insurance Corporation’s web site at www.fdic.gov. Every type of bank can be found under the “bank Find” tab. The unclaimed money can be requested within a period of one and a half years, and after, the funds are handed over to FDIC.

Certain cities, counties and states are holding billions of dollars in unclaimed money from people and businesses. There are many myths circulating about the process for obatining this money, some of which are true, but the majority are false. If you need assistance in obtaining your money, then you should contact a company that specializes in finding and returning unclaimed money to the rightful owner.