Looks like it has been covered on ER forum before, but I just listened to a planet money podcast about escheat, which was all news to me:
https://www.npr.org/2020/01/24/799345159/episode-967-escheat-show
Scary stuff.
If you aren't familiar, escheat is the process by which states take 'unclaimed' assets. What constitutes 'unclaimed' or lost assets varies state by state. Apparrently Delaware now considers any account not logged into in the last three years as lost and the assets will be taken, (prehaps more acccurately 'held', but listen to the story for the implications).
Seems to me like citizens of Delware have plenty incentive to make that threashold lower and lower and lower to make it easier to fill their coffers with money from all around the country.
Moral of the story, log on to your accounts regularly I guess.
https://www.npr.org/2020/01/24/799345159/episode-967-escheat-show
Scary stuff.
If you aren't familiar, escheat is the process by which states take 'unclaimed' assets. What constitutes 'unclaimed' or lost assets varies state by state. Apparrently Delaware now considers any account not logged into in the last three years as lost and the assets will be taken, (prehaps more acccurately 'held', but listen to the story for the implications).
Seems to me like citizens of Delware have plenty incentive to make that threashold lower and lower and lower to make it easier to fill their coffers with money from all around the country.
Moral of the story, log on to your accounts regularly I guess.