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Unclaimed Financial Nesteggs

7 December 2008 One Comment

Are you about to be rich? Do you have an unclaimed financial nestegg sitting in government coffers that you had simply forgotten about or didn’t know you had? Is your name, your mothers name, your fathers name or one of your grandparents’ name on the list held at the State Unclaimed Property Office?

And that is in any State that you or they have previously resided in, not just the State you currently live in.

Did you know that the respective State Unclaimed Property Offices bank mega millions of your money each year across America and the irony is that only a small portion of these assets are actually reclaimed by the rightful owners?

Here’s a short list of just some of the things that you may find that you or your family is entitled to at your State Unclaimed Property Office.

  • Bank Accounts
  • Pensions
  • Safe Deposit Box
  • Stocks and Bonds

For some reason people forget about an old bank account and they usually have a small fortune in them. Have you ever had money deposited in a failed bank? The Federal Deposit Insurance Corporation (FDIC) holds millions in unclaimed funds.

Pension Funds are important to check. Especially if you have changed employers several times throughout your working life or the business you worked for either merged with another company or closed its doors due to bankruptcy.

You may find that your pension fund is still growing if not already banked by the State Unclaimed Property Office. Visit the Pension Benefit Guaranty Corporation (PBGC) website to see if you have any unclaimed pensions.

The contents of Safe Deposit Boxes are generally auctioned and banked after a certain time frame. You need to check with your State office to find out the exact details.

Stocks and Bonds, again, this could be a healthy lump sum just waiting for the rightful owner to cash in.

Social Security Offices aren’t the last place to look for a retirement nestegg either, especially if you’re a woman. A change of name after marriage and money is “lost” in the system that you never knew you were entitled to, hence you never missed it, and it’s sitting in their bank account instead of yours.

This all sounds more than interesting, where can I get more information about this?

You can start by heading over to the National Association of Unclaimed Property Administrators website.

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