Sweet Money for Beehive State Residents- Utah Unclaimed Money

The Utah State Treasurer is looking for 25,000 individuals and businesses who have lost track of their financial assets. Most of the names that are owed millions of dollars in Utah unclaimed property are probably oblivious of the fact that they have state unclaimed money in their name- the money wouldn’t have piled-up otherwise. Right now, the unclaimed funds in the Beehive State have piled-up to an excess of $100 million!

 

Every year people lose track of their assets due to a change in address and neglecting to leave behind a forwarding address.. When financial establishments can’t locate the rightful owners of abandoned assets like bank accounts, uncashed checks, and insurance policies, they are required by escheat laws to turn these over to the state after 5 years. The last example (insurance) makes up a quarter of Utah unclaimed money accounts, says Utah unclaimed property administrator Kim Oliver. “Maybe your mom or dad bought you a life insurance policy when you were a little kid. You’ve moved since then and Prudential couldn’t find you when the ownership policies were cashed out. So if you think you were with this firm, you could be getting something.” Oliver is talking about Prudential Properties who changed to stockholder format from policyholder format after which thousands of couldn’t be contacted for their payouts. This in a report from local newspaper The Deseret News.

 

With the cost of food, fuel and basic commodities going-up, Americans are scrambling to find ways to get extra money just to get by. Doing an unclaimed money search can be one of the quickest (and legal) ways to extra funds in your pocket. Who knows? You may missing money right now and not even know it.