Missing Money

There are many web sites on the internet that collect the public information from each state that lists the owners and last known address of “stuff” (money, contents of safe deposit boxes) currently held in trust by the state.

I have been slowly making my way through the long list of banks with the paperwork needed to substitute my name for my mom’s name as trustee of the accounts and at one bank, they had no record of the account!  This was somewhat disconcerting as I had a less than 30 day old statement from the bank and I *KNEW* that I had not taken my mom to the bank to close the account.

Eventually the banker found out the account had been dormant so long that they, per state law, had to forward the money to the state.

I filed the forms, plus enough additional paperwork to show I was legally entitled to file for my mom, and waited.  Three weeks later,  the check arrived in the mail.  It’s now in the bank.

While I was looking, I entered my friends names…one was listed and I told them about it.  They told me the amount they had forgotten about was almost enough to pay off their mortgage–12  years early.  I’m not sure how one can forget about that much money, but it obviously can happen.

So, look yourself, your relatives and parents up on any of those web sites…..you might be surprised.

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