Unclaimed Property Searches

Have you Received a Call?

Have you received a call from an organization who tells you that you have unclaimed property in the state of X, Y or Z ?  This wonderfully helpful company on the phone will help you get access to this property. Or maybe you’ve received a letter from a law firm that specializes in locating individuals who are owed money from various sources. For a  fee, the firm will help you get the money.

Is this a Scam?

Your first thoughts have likely been: Are these a scam? Are they for real? They might be a scam, they might be real – who knows! – but from our point of view, the answers to those questions don’t matter. Our advice is to ignore those calls.  You can easily figure out on your own if you own any unclaimed property, and you don’t need to pay someone else to do it for you.

One in 10 People Have Unclaimed Property.

The truth is that people lose track of their money or financial property more often than you think.  It often happens because of a death, a change of address, or an inheritance they didn’t know about. Conservatively, it is believed that one in 10 people have unclaimed property, with the total value in the billions of dollars. It is a good idea to regularly check to see if you have any unclaimed property.  You might be surprised to find something! Unclaimed property is tracked state by state so if you’ve lived in several states, you will want to conduct routine searches in each state.

How to Search if You Have Unclaimed Property.

To determine if you have undesignated property, the easiest thing to do is a quick Google search. Search for “Unclaimed Property Search _______” (fill in the blank with the state you want to search), and you will find a website that will easily help you determine if you have any unclaimed property. For those wanting to search in Minnesota, click here. For those wanting to search in Florida, click here.

These sites are very easy to navigate and will help find out if you truly have any “unclaimed property”, just as those phone calls or letters claim. A simple search of your name will list any undesignated property and give you directions on how to start filing a claim. Most claims can be done online if you are able to provide the necessary personal identification information. You may even come across unclaimed property for other family members and be able to alert them to a nice surprise!

Please contact the White Oaks Team for help or further questions regarding unclaimed property.

The foregoing content reflects the opinions of White Oaks Wealth Advisors and is subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.

Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns.

Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.

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