What should I keep?

Financial EducationUnclaimed Property
Dec 08 2015

Unclaimed property frequently results from people moving or dying. The best way to avoid your property becoming unclaimed is to keep good records of what you have.

If you are moving:

  • Keep some documents that show your previous address.
  • Check for and collect any utility deposits you may be entitled to.
  • Make sure you have received your last paycheck from any previous employer.
  • Update your address with your bank, including all loans, CD’s, safe deposit boxes as well as checking and savings accounts.
  • Update your address on any retirement plans if it is not going to be rolled over to a new plan. 
  • Update your address for stocks, bonds, mutual funds.

 

When an individual passes away, the family will frequently need to file documents to administer his or her estate.  In order to make sure that your assets do not become unclaimed after your death, you should maintain a listing of documents such as the following:

  • Life insurance policies you hold on your life or family members.
  • IRAs
  • 401 (k)s
  • Pension documents
  • Annuity contracts
  • Safe deposit boxes
  • Stock certificates and statements
  • Mutual fund statements
  • Savings bonds

 

Finally, if property you own or are responsible for becomes unclaimed, you can always claim it from the state. What documents should you maintain in order to claim unclaimed property?

  • Marriage licenses
  • Wills for estates you have administered
  • Death certificates
  • Trust  documents
  • Documentation of FEIN/SSN for yourself, any business you have owned, and any estates you have administered
  • Copies of estate documents

 

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