Have you ever wondered if you have unclaimed money or property waiting for you? Every year, millions of dollars in unclaimed assets are handed over to the state by businesses, financial institutions, and other entities. These assets can include forgotten bank accounts, uncashed checks, insurance benefits, and more. Our guide will help you understand what unclaimed property is and how you can find and claim it.
How to Claim Unclaimed Property
The process for claiming unclaimed property can vary slightly depending on the state. Below, you will find detailed guides on how to claim unclaimed property in each state. Simply click on your state to get started with the specific steps and requirements.
What is Unclaimed Property?
Unclaimed property refers to any financial asset that has been abandoned or inactive for a specified period, known as the dormancy period. These assets can include bank accounts, uncashed checks, security deposits, stocks, bonds, insurance benefits, and more. It is important to search for and claim unclaimed property to recover assets that legally belong to you, ensuring your estate remains complete and preventing indefinite loss.
How It Works
The process of finding and claiming unclaimed property generally follows these steps:
- Search: Use state and national databases to search for your name, a business name, or a deceased relative’s name. Many of these databases are available online and are free to access.
- Verification: Once you find a potential match, you will need to provide documents that verify your identity and your right to claim the property. This may include government-issued ID, proof of address, and other relevant documents.
- Claim: Complete the claim form provided by the state’s unclaimed property office. Be sure to include all required documents.
- Processing: The state office will review your claim and the provided documents. This process can take from a few weeks to several months, depending on the state and the complexity of the case.
- Recovery: Once the claim is approved, you will receive the claimed assets, which can be in the form of a check, bank transfer, or delivery of physical goods.
Searching for and claiming unclaimed property is an essential process to ensure your assets and property are not lost and are used appropriately for your benefit and that of your heirs.
Benefits of Claiming Your Unclaimed Property
Claiming your unclaimed property can provide several benefits, including:
- Recover Lost Assets: Ensure that you regain control over your financial assets and property.
- Secure Your Inheritance: Protect your inheritance and ensure it is passed down to your rightful heirs.
- Financial Peace of Mind: Avoid the risk of losing money indefinitely by reclaiming what is rightfully yours.