Youve probably heard a thing or two about unclaimed money or property.
In fact,weve told you how to find it.
Plus, it keeps your accounts from being stuck in limbo.
The problem is, some states have started to take over these accounts when theyre not really abandoned.
In the above map, these states are colored in gold.
Check in on CDs, IRAs, and other set and forget accounts regularly.
Most states will consider checking an online balance as evidence the account is active.
Cash checks asap
Open all mail, even what seems to be a generic notice from the bank.
Financial institutions are supposed to inform you in writing that your account is about to be transferred.
Its an easy enough problem to avoid once you know about it.
Forbes above map shows you which states transfer accounts after only three years of inactivity.
So if you live in one of these states, you may want to look into the laws.
And read more about it at the link below.
Banks Quick To Turn Over Abandoned Assets To Revenue-Hungry States| Forbes
Photo: Forbes
