|
I used to handle that function at an old job years ago.
The good thing is that any "abandoned property" consisting of bank accounts or mutual funds will have been earning interest over the years. The bad thing is that if you don't submit a claim and the property remains "abandoned", then it belongs to the state.
Do you remember about a year or so ago when the state had an auction for abandoned properties such as coins, jewelry etc...?
I was always amazed that people could forget bank accounts and mutual fund accounts thatat the time were valued in thousands.
My funniest story was about a lady that found some old mutual fund dividend checks/statements her father had hid behind and old picture hanging on the wall. It turned out he had not cashed thousands of dollars worth of dividend checks, and could have easily lost the funds had the daughter not knocked the picture off the wall.
|