Unclaimed Funds
What Are Unclaimed Funds? Your Guide to Recovering What’s Yours
Unclaimed funds are financial assets that have been abandoned or forgotten by their rightful owners. These funds can come from a variety of sources, such as forgotten bank accounts, uncashed paychecks, unused gift cards, insurance payouts, utility deposits, stocks, dividends, or even inheritances.
When the owner of these funds cannot be located, the money is turned over to the state or local government, where it is held until the rightful owner or heir comes forward to claim it.
How Much Unclaimed Money Is Out There?
Believe it or not, there is currently billions of dollars in unclaimed funds across the United States. According to the National Association of Unclaimed Property Administrators (NAUPA), states collectively hold over $70 billion in unclaimed assets.
This money belongs to millions of individuals, businesses, and organizations who may not even realize they’re missing out on what’s rightfully theirs. On average, one in ten people has unclaimed funds waiting for them!
What Happens to Unclaimed Funds If They Go Unclaimed?
If unclaimed funds go untouched for a certain period of time (usually between one and five years, depending on the state), the money is considered “abandoned” and is turned over to the state’s unclaimed property office.
The state then holds the funds in trust indefinitely, waiting for the rightful owner or heir to come forward. However, if no one claims the money, it may eventually be absorbed into the state’s general fund or used for public services.
While the funds are technically still available to claim, the process can become more complicated over time.
Why Each State Is Different
It’s important to note that unclaimed funds laws and processes vary by state. Each state has its own rules regarding how long funds can remain unclaimed before being turned over to the government, how the funds are managed, and what steps you need to take to claim them.
Some states have user-friendly online databases where you can search for your name, while others may require you to submit paperwork or provide additional documentation. This is why it’s crucial to do your research and understand the specific requirements for the state where you or your family members have lived or conducted business.
Don’t Let Your Money Go to the Government!
Unclaimed funds are your money, and they shouldn’t end up in the hands of the government simply because you didn’t know they existed.
Whether it’s a small amount or a life-changing sum, every dollar counts. The good news is that claiming your unclaimed funds is often a straightforward process, and you don’t need to pay anyone to help you recover your money.
However, if you’re unsure where to start or want to ensure you’ve covered all your bases, professional assistance can make the process easier.
Take Action Today!
If you’re unsure whether you or a family member has unclaimed funds, don’t wait—reach out to us!
We can help you locate and collect any unclaimed funds owed to you. Our team is here to guide you through the process, answer your questions, and ensure you get what’s rightfully yours.
Remember, this is your money, and we’re here to help you reclaim it before it ends up in the hands of the government.
Contact us today to get started and take the first step toward recovering your unclaimed funds!