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Found Money Links - reminder
Old 11-20-2019, 04:16 PM   #1
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Found Money Links - reminder

From an older thread. - hat tip to Nords

BUT.... a reminder for younger members who have parents who are getting old.

Check for any documents that may have been buried or forgotten.

Stocks, Insurance Policies, Bonds, especially US savings bonds, that were de rigueur for my generation.

A heads up... MetLife got into trouble a few years ago, for not locating thirty-thousand insurance polices , where the owners had passed away. The company had kept the monies. Just one company... Government required a $2.9 billion escrow account as a penalty.

For old folk like jeanie and I, this could have posed a problem to our kids, had we passed away. We had a few hundred thousand dollars in IBonds, in paper form. We have since taken care of this, but to tell the truth, we thought we might live forever, and until five years ago, they might have been left in the Treasury Vaults... forever. A gift to the country from bob and jeanie.

We did find some money from the Rhode Island unclaimed money site, in the form of an old $100 insurance policy taken out in 1935 that had grown to $1300 and other monies that altogether totalled $4200.

In checking the Massachusetts "found money" accounts, while I didn't find anything that belonged to me, there are 372 accounts with money due to my first and last name... which is not a common name.

So... don't assume... check with older members of the family... and of course do your own due diligence to insure the safety of your own assets.

We've had posts on this before, but just a reminder, and a suggestion for younger members.

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Old 11-22-2019, 10:24 PM   #2
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Originally Posted by imoldernu View Post
So... don't assume... check with older members of the family... and of course do your own due diligence to insure the safety of your own assets.

We've had posts on this before, but just a reminder, and a suggestion for younger members.
Good reminder, and it's not just the older members of the family.

I used to regularly search the national & state databases for my father's assets, because I wasn't sure when he might have abandoned an account. I think his state's limit was five or seven years, so I just kept checking every year.

One year I found our family name, and it turned out to be my younger brother. He'd "forgotten" about a deposit that he'd paid on a utility account and then moved to a different address... oops.

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