Unclaimed Money – What is it?
|November 8, 2011||Posted by admin under Unclaimed Money||
Ever hear about unclaimed money and wonder exactly what it is? After all you could have unclaimed funds sitting there with your name on it. It may be unclaimed property, cash, pension money, us savings bonds, stocks, company retirement or some other funds turned over to the US government which is owed to you.
Unclaimed property is one of the most unexpected things people find that was given to them by a deceased relative but the relative forgot to tell them that before they died. These things do happen and you should check to see if there is any missing property in your name.
U.S. Savings bonds is a popular source of government unclaimed funds. In fact this is the largest point of supply of all missing money, and there is tons of it too dating many years back. This is actually money held by the US government just sitting there since they reached their maturities and no one is claiming it. You may want to check your grandmother/grandfather’s name to see if there is money sitting there.
Pensions are a large source too. This is because companies must report it to the government to be free of fines etc. imposed on them if they can’t find the owners within 3 – 5 years normally.
Safety deposit boxes are another author of unclaimed money which is recklessly unclaimed cash which people just forget about or they died and their sons/daughter/wife/husbands never knew existed.
Most of all check on a regular basis because missing money gets updated on an ongoing basis and you never know when it may pop up! Read more at what is unclaimed money?