In the early hours of the morning in Singapore this month, Ms Cox and I discussed the matter with the State Auditor's Office via Zoom while her young children moved and we waited for the process to be completed. At some point, Mr. Cox thought about asking about the missing $45,000 (the amount left over from his 2014 statement). How much of her money did the state have now?
“$115,000,” he answered.
It turns out that the state tracks the performance of your investments and you get all the growth when you show up to claim the property. Those old Eaton Vance mutual funds have held up reasonably well. Mr. Cox smiled bitterly.
Later that day, I asked her about her plans for the money that arrived via wire transfer to her bank account this week. Maybe a new 529 college savings plan for those two kids? With the help of a Morgan Stanley broker?
“I don’t think so,” she said. “No. No, it’s okay.”
How to Find Unclaimed Money in Your Name
Not all unclaimed funds are bank or brokerage accounts that the owner forgot about. This could be stock dividends, insurance policies, uncashed checks, etc. If you want to find your name (e.g. that of an older relative), here's how:
Search for your state (or all states)
Every state has some type of unclaimed property unit. You can easily find it by searching online. Make sure the site is legitimate. Florida, which is more geeky than ever, operates at the web address FLTreasurehunt.gov.
The home page of the National Association of Unclaimed Property Administrators has a map with links to sites for each state. At Missingmoney.com, you can search all states at once.
Prepare your credentials
To make a claim on your property, you will need to prove who you are through personal information or identification. You may also need records from the company you were dealing with before they hand everything over to the state.
Appeal when blocked
If the state denies you for any reason, take careful note of what might make you change your mind. If you are not satisfied with the answer and you live in a state where you have unclaimed property, contact your state representative and ask for assistance as an act of service to the residents.
And if the company that handed over your property to the state is one you backed and is currently creating obstacles, take your appeal a notch higher in their customer service department. If that doesn't work, try the patented executive email carpet bombing method, which involves sending targeted, pointed letters to company executives.