States and government agencies are holding $40 billion. Is some of it yours?
If you've ever pulled a $20 bill out of the pocket of an old pair of jeans or a mothballed winter overcoat, you know the pure joy of finding money you didn’t know you had.
But many of us have much larger sums languishing in old bank accounts, forgotten insurance policies, uncashed paychecks and other relics of our financial lives. When an account is inactive for a certain period of time— which varies, depending on the state—the financial institution or company is required to turn the unclaimed assets over to the state. State treasury departments and other agencies hold more than $40 billion in unclaimed property, and there’s a good chance that some of it may belong to you or someone in your family.
A number of companies will conduct a search for a fee, but don’t waste your money. If you have access to the internet, you can search free.
This story is from the September 2017 edition of Kiplinger's Personal Finance.
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This story is from the September 2017 edition of Kiplinger's Personal Finance.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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