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Excuse Me, Ma'am, But You Forgot Your Money PDF Print E-mail
Written by The Home Economist   
Wednesday, 13 January 2010 19:04

If you think finding an old five-dollar bill in your jacket pocket is fun, wait until you read this. By The Home Economist.  

Welcome to our new weekly - or monthly, depending what else is going on in the world - feature called, "Does the Government Owe You Money?" You probably think you know the answer to this question. That if you've had any recent financial transactions with the United States of America - and particularly those in which your were on receiving end of the money - you'd know about it.

But we're here to report that's just not the case. It turns out, there are many reasons an entire nation would owe you money without your knowledge. And today we'll be discussing the topic of "unclaimed property," a tactful way of saying  "money you totally forgot about." It turns out, many of us do not know - or simply have forgotten -- about $32 billion worth of pure, green-bodied, American dollars that actually belong to us. That's how much the government is holding in its care  until we can get around to claiming this cash.

Maybe we've been distracted by our jobs or bills or every day life to stop and think, "Hey, whatever happened to that safe deposit box I stuffed with money?" But there are over 100 million checking accounts, stock investments, and safe deposit box contents just sitting there, waiting for a rightful owner to come and make the claim. There are also payments from former employers that were never delivered, travelers checks that were never cashed, life insurance policies that were never collected, and even security deposits to electric companies that were not picked up. You may even have a dead uncle that left you an inheritance.

Fine, you're a pillar of financial organization and not convinced. But if your mother or grandmother or great grandmother had one of these accounts, the government will be happy to hand it to you. So you better look into this....before your crazy cousin does.

FIND OUT IF YOU'RE AN UNCLAIMED PROPERTY OWNER  


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Last Updated on Wednesday, 07 April 2010 10:04