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I Had $562 in Unclaimed Property

Posted On December 10, 2017 By Scott Stratton, CFP(R), CFA In Financial Planning /  

Several years ago, I changed firms, and in the process of moving, apparently my old firm did not forward a check for an insurance commission they had received. With the $562 check going unprocessed for more than one year, the insurance company filed an “Unclaimed Property Report” and turned the funds over to the State Comptroller of Texas.

To my surprise, I found my name on a list of unclaimed property and was able to receive this $562 from the state last year. Here in Texas, the Comptroller has returned more than $2 Billion in unclaimed property. Maybe you moved and missed a check? Maybe you had an old bank account that you forgot about? Maybe a company owed you a credit and was unable to reach you?

Here’s how you can find if there is any unclaimed property under your name. You will need to check for each state where you have lived. You can start by going to the website of the National Association of Unclaimed Property Administrators and clicking on your state. Search for your name and city.

For Texas residents, you can go directly to the Texas Site here.

It’s worth spending two minutes doing this, even if you believe as I did, that no one owes you any money. Let me know if you have any success. I hope you do!

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Scott Stratton, CFP(R), CFA

Scott Stratton is a fiduciary financial advisor and CFP®/CFA who has worked with retirees and pre-retirees since 2004. He specializes in retirement income planning, tax planning, and portfolio management for households who typically have $500,000 to $5 million in investable assets. He works with clients nationwide on a remote basis.

All articles by: Scott Stratton, CFP(R), CFA

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Good Life Wealth Management LLC is a registered investment advisor offering advisory services in Arkansas, Texas, and in other jurisdictions where exempted. Fiduciary retirement planning for retirees and pre-retirees nationwide | $500k–$5M portfolios | Remote-friendly

scott@goodlifewealth.com

214-478-3398

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