Government trustees are holding $300 billion in
missing money, unclaimed property and abandoned funds including:
lost bank accounts and safe deposit boxes
missing stocks, bonds and mutual funds
forgotten U.S. Savings
Bonds
undelivered and uncashed IRS refunds
HUD
mortgage insurance refunds
Native
American Indian monies
unpaid IRA, 401(k) and other pension benefits
unknown lost life insurance policies and annuities
missing heir inheritances
veterans benefits
railroad retirement pensions
mineral royalties
Social
Security checks
unused
gift card balances
unclaimed child support payments
Missing money becomes abandoned in the
eyes of the law after contact with the owner is lost. This often happens
following a name change after marriage or divorce, after the expiration
of a mail forwarding order, and when rightful heirs fail to claim funds
owed deceased family members.
One-third of all life insurance policies go unclaimed, for
example, because it is the responsibility of family members to notify
the policy underwriter upon death of the insured. Many family members
simply aren't aware a policy exists, or don't know how to track down the
life insurance company that issued the policy.
In most cases there are no time limits for owners and heirs
to reclaim lost money, but there are some notable exceptions, so prompt
action is advised!
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