Unclaimed Money Secrets: How We Found $142K in Missing Money

How we found $140,000 in Missing Money

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Do you know anyone who has received a cash windfall from MissingMoney.com? We have …because it was us!

Have you ever wondered if there’s money out there with your name on it? It turns out that more than $49 billion in unclaimed funds are being held by state governments and treasuries across the United States. Even more surprising, approximately 1 in 7 people have money waiting to be claimed!

After Steve’s father passed away in 2019, the family went through the difficult process of settling his estate. While researching an article he was writing in 2020, Steve stumbled upon something unexpected – multiple listings of unclaimed assets that appeared to belong to his late father. This discovery eventually led to an astonishing windfall for the family that none of them had anticipated.

In this guide, you’ll learn exactly where to search for your unclaimed money, how to claim it with minimal hassle, how to avoid costly third-party services, and hear real-life stories of people who’ve recovered significant funds that were rightfully theirs – including how the Economides family recovered over $142,000 from long forgotten accounts!

TL;DR: Missing Money Summary

To find your missing money, search these official websites (all free to use):

  • MissingMoney.com – The official national database run by NAUPA
  • Unclaimed.org – Links to every state’s official unclaimed property program
  • TreasuryDirect.gov/Hunt – For unclaimed savings bonds
  • IRS.gov – For unclaimed tax refunds and stimulus payments
  • PBGC.gov – For unclaimed pension benefits
  • FDIC.gov – For funds from failed banks
  • NCUA.gov – For funds from failed credit unions
  • VA.gov – For unclaimed life insurance benefits for veterans

Always search every state where you’ve lived, and check for variations of your name. 

Remember to search for deceased relatives if you’re an heir. 

And if you’re curious, search for some close friends too. It’s fun to send emails telling them that you found some of their money.

Don’t pay for services that you can do yourself for free!

What is Unclaimed Property?

Missing Money Website Logo

Unclaimed property refers to financial assets or accounts that have been dormant or inactive for a specific period with no owner contact. When this happens, businesses and financial institutions are legally required to turn these forgotten funds over to state governments, which then act as custodians until the rightful owners claim their missing money.

The “dormancy period” varies by state and type of property, typically ranging from one to five years. For example, an uncashed paycheck might become unclaimed after one year, while a savings account might become unclaimed after three years of inactivity.

Common types of unclaimed property include:

  • Checking or savings accounts
  • Uncashed paychecks, dividends, or refunds
  • Stocks, bonds, and mutual funds
  • Insurance payments or policy benefits
  • Utility security deposits
  • Safe deposit box contents
  • Gift certificates (in some states)
  • Tax refunds
  • Trust distributions
  • Escrow accounts

An Example of Unclaimed Property

An everyday example helps illustrate how property becomes unclaimed: Joe moved from Tennessee to Nashville but didn’t provide his forwarding address to his former landlord. After his security deposit went unclaimed for the one-year dormancy period, the $500 became missing money and was turned over to the Tennessee Department of Treasury.

How Much Money is Unclaimed?

The scope of unclaimed property is enormous – according to the National Association of Unclaimed Property Administrators (NAUPA), states return over $4.5 billion in forgotten funds to rightful owners annually. Yet this represents only a fraction of the estimated $49 billion in unclaimed money still waiting to be claimed across the United States.

There are around 258 million adults in the U.S. over the age of 21. If you divide $49 billion by 258 million people, it means that there’s about $190 of missing money for each adult.

There’s a good chance there’s some abandoned property waiting for you too!

Asset Domancy Periods

The time it takes for financial accounts to be considered abandoned is called the dormancy period. This time frame can be different depending on the type of account and the state where it is held.

Once an account is inactive for too long, it is turned over to the state’s unclaimed property program.

Below is a list of common account types and how long they usually need to be inactive before being reported as unclaimed.


💼 Investments (e.g., Stocks, Mutual Funds, Bonds)

  • Dormancy Period: 3 to 5 years
  • Trigger: No activity, no contact, and no cashed dividend checks
  • More Info: Brokerages may be required to report unclaimed dividends and proceeds from sales

🏦 Bank Accounts (Checking, Savings, CDs)

  • Dormancy Period: 3 years
  • Trigger: No deposits, withdrawals, or contact with the bank
  • More Info: Posting interest does not count as activity

🧾 Life Insurance Policies

  • Dormancy Period: 2 to 5 years after death or policy maturity
  • Trigger: No claim made on the policy after the insured person passes away or the policy reaches maturity (like age 100)
  • More Info: Some states use the Social Security Death Master File to identify unclaimed policies Learn more from Unclaimed.org about various states rules on Life Insurance.

🧓 Individual Retirement Accounts (IRAs)


🏠 Home and Auto Insurance Refunds


📦 Safe Deposit Boxes

  • Dormancy Period: Often 3 to 5 years.
  • Trigger: Non-payment of rental fees or no contact with the bank.
  • Arizona: 3 years of inactivity. ​

Now that you know what unclaimed property is and some of the time frames that it is bound by, let’s get into some real-life found money examples.

Real-Life Unclaimed Money Success Stories

How we found $140,000 in Missing Money

The journey to finding unclaimed money can lead to remarkable discoveries. Here are real-life examples that demonstrate the potential of searching for forgotten funds.

The $142,000 Discovery

When Steve first checked MissingMoney.com for his deceased father’s name in 2020, he found several listings. Steve immediately emailed his brothers about the discovery, noting there were “several hundred and maybe thousands of dollars in Dad’s name in the State of Illinois.”

MIssing Money List for Economides Family 2022
Our First Search for Missing Money for our Family Trust and Dad’s Estate in 2020

What started as a casual search took a dramatic turn in November 2022 when the family received a certified letter from Abandoned Property Advisors (APA), a third-party finder company. The letter claimed they could help recover assets from Massachusetts Mutual Life Insurance Company valued at over $100,000.

“The current estimated account value is $100,784.18,” the letter stated, along with a notice that APA would charge a 20% fee for recovery services ($20,156.84).

Steve decided to investigate further. After calling the number provided, he spoke with representatives who confirmed these were Roth IRA accounts that had been closed out but not included in his father’s trust. During negotiations, the representative dropped their fee from 20% to 11% – still a substantial amount on a six-figure recovery.

Apa letter to reclaim unclaimed assets missing money
The letter we received from Abandoned Property Advisors in 2022

Instead of using the third-party service, the family had their estate attorney submit the proper forms directly. The final result? The Economides family recovered $142,808.90 in forgotten Roth IRA accounts, paying only about $900 in attorney fees instead of potentially $14,000-$20,000 to the finder company.

A $3,000 Windfall from a Rental Property

The Economides aren’t the only ones with a successful recovery story. While helping a friend named Sandi learn to manage her finances, they decided to check MissingMoney.com for potential unclaimed funds.

To their surprise, they found several listings for both Sandi and her ex-husband. Because Arizona is a community property state, Sandi was able to claim assets that had both names attached.

After some persistence and follow-up calls to the county treasurer, Sandi eventually received approximately $3,000 from a rental property deposit from more than 10 years prior. Even accounting for the time spent tracking down the money, Sandi effectively “earned” about $800 per hour for her efforts!

These real-life examples illustrate the importance of searching for unclaimed property – both for yourself and for deceased relatives. With the average claim value being $2,080 according to MissingMoney.com, taking a few minutes to search could yield significant rewards.

The $300 Business Reimbursement

Steve was no stranger to the unclaimed property process. Years earlier, around 2005, he received notice from the Arizona Department of Revenue about money being held for his business, Exo31 Advertising and Marketing.

After submitting the claim form, Steve received a $300 check within two months. Interestingly, when checking his records, he discovered the client had already paid him, and he never determined exactly how the money ended up with the state.

These real-life examples illustrate the importance of searching for unclaimed property – both for yourself and for deceased relatives. With the average claim value being $2,080 according to MissingMoney.com, taking a few minutes to search could yield significant rewards.

Where to Search for Missing Money

Finding your unclaimed money requires knowing exactly where to look. With billions of dollars waiting to be claimed, here’s a comprehensive guide to the most trusted resources for your search.

Official National Databases

MissingMoney.com – This is the official national database sponsored by the National Association of Unclaimed Property Administrators (NAUPA). Most states participate in this free website, which allows you to search participating states’ databases simultaneously. When there’s a match, the site provides information and links to official government websites to begin the claims process. This is an excellent starting point for your search. Search the National Unclaimed Property Database at MissingMoney.com

Unclaimed.org – Also operated by NAUPA, this site doesn’t maintain a database itself but provides an interactive map and links to official government unclaimed property programs for each state and province. It’s a trustworthy portal to ensure you’re accessing legitimate state resources. Find Your State’s Official Unclaimed Property Program at Unclaimed.org

State-Specific Resources

Each state manages its own unclaimed property program with different rules and search interfaces. 

For example:

When searching state databases, be sure to check every state where you’ve lived or done business. Property is typically reported to the state where the company or organization that holds the property is located.

Federal Government Resources

There is no single place to look for all unclaimed money at the federal level. You’ll need to use separate databases for each type of missing money. 

The most important federal resources include:

Important Search Tips

Be thorough in your search for missing money by:

  • Checking under your current name, maiden name, and any previous names
  • Searching for common misspellings of your name
  • Looking for deceased relatives’ names if you’re a potential heir
  • Checking businesses you’ve owned or operated
  • Reviewing all states where you’ve lived, worked, or had accounts

Remember that Unclaimed.org is a legitimate site created by state officials to help people search for funds that may belong to you or your relatives, and searches are always free. Beware of “locator services” that charge fees for something you can do yourself at no cost.

Step-by-Step Lost Money Search Process

Searching for unclaimed property doesn’t have to be complicated. Following these organized steps will help you conduct a thorough search and potentially recover forgotten funds that rightfully belong to you or your heirs.

Start with MissingMoney.com

MissingMoney.com is the most user-friendly starting point for your search. Here’s how to use it effectively:

  1. Visit MissingMoney.com and enter your last name in the search field.
  2. For more targeted results, add your first name and select a state if you know where the property might be held.
  3. Review the results that match your name.
  4. Click on any matches to see more details about the unclaimed property.
  5. If you find a match, follow the on-screen instructions to file a claim.
  6. Go back and check every state where you have lived

States make it as easy as possible to check for your unclaimed property. Each state maintains a database of abandoned assets for that state, and—by law—attempts to return the property to its rightful owners.

Expand Your Search to Individual State Databases

If you don’t find anything on MissingMoney.com, or want to be extra thorough:

  1. Visit Unclaimed.org and use their interactive map to find official state websites.
  2. Search every state where you’ve lived, worked, or held accounts.
  3. Remember that unclaimed property is reported to the state in which the company or organization resides. Therefore, it’s common to have missing money in multiple states, especially if you have moved.
  4. Create a checklist of states you’ve searched to stay organized.

Use Search Variations to Maximize Results

Don’t limit yourself to a single search. Try these strategies to ensure nothing gets missed:

  1. Search all variations of your name:
    • Full name
    • First and last name only
    • Last name only
    • Maiden name
    • Previous married names
    • Common misspellings
    • Nicknames
  2. Try searching special terms in the “last name” box. This expert tip comes from Mary Pitman, known as “The Unclaimed Money Fairy,” who discovered that many states’ databases won’t find your listing unless you enter it just right. Read an article about her from ABC News here. 
    • Here are some of the terms Pitman suggests entering in the last name cell when you search:
      1. Full Name Searches: Enter the full name, such as “John Doe.”
      2. Include Designations: Add suffixes or titles like “Jr,” “Sr,” “Esq,” “II,” “III,” “MD,” “DO,” “RN,” “CRNA,” “DDS,” etc., both with and without punctuation, as formatting can affect search results.​
      3. Variations of Titles: Try different forms like “Mr.,” “Mrs.,” “Mr. and Mrs.,” or “Mr. & Mrs.”​
      4. The Estate of
      5. Payable on death
      6. POD
      7. Trustee
      8. Executor
      9. Beneficiary
      10. No Beneficiary
      11. Unknown Heir
      12. Unk Heir
  3. Search for your old addresses to uncover property that might be listed by location rather than name.

Searching for Deceased Relatives’ Property

Finding unclaimed money from deceased relatives requires a slightly different approach:

  1. To find out if a deceased relative left forgotten funds behind, perform an unclaimed property search using their information. This data is provided by each state controller office and is free of charge.
  2. Gather all the information you can about the deceased person:
    • Full legal name and any aliases
    • Social Security number
    • Date of birth and death
    • Last known addresses
    • Previous employers
    • Military service information
  3. Don’t just search your loved one’s name alone. Check dozens or even hundreds of entries that pop up with variations of their name or other terms surrounding their name.
  4. Prepare documentation to prove your relationship to the deceased, typically including:
    • Death certificate
    • Birth certificates or marriage certificates showing your relationship
    • Letters of Administration or other probate documents if you’re the executor

Steve’s Uncle – 30 Year Old Missing Money

While researching this article in 2025, Steve decided to check the California Missing Money site. He was curious to see if an unmarried uncle with no heirs, who passed away in 1995, had any assets listed.

BINGO!

On the MissingMoney.com website it listed one asset as “over $100.” But on the California State Controller’s website Steve the assets listed as $192. The money was from American Reserve Insurance company. Not a fortune, but after 30 years the money is still sitting there.

We haven’t decided if it is going to be worth pursuing.

Document Your Search Process

Keep track of your search to avoid duplication and ensure thoroughness:

  1. Create a spreadsheet with:
    • Websites searched
    • Date of search
    • Search terms used
    • Results found
    • Claim status
    • Follow-up needed
  2. Save confirmation emails, screenshots, or claim numbers from any searches.
  3. Set calendar reminders to follow up on pending claims and to repeat your search annually.

Download this .xls file and start tracking your progress

Missing Money Tracker
Download the .xls spreadsheet here

Remember, the search process may take time, but the potential reward makes it worthwhile. Many people discover money they never knew existed, just like the Steve & Annette with their $142,808 windfall or Shelly with her unexpected $3,000 recovery. With a systematic approach to searching and claiming, you could be next to recover some missing money.

How to File a Claim

Once you’ve found unclaimed property that belongs to you or a deceased relative, the next step is filing a claim. While the exact process varies by state, here’s a general guide to help you navigate the claims process successfully.

Required Documentation for Filing a Claim

When filing a claim for yourself, you’ll typically need to provide:

  1. Government-issued photo ID (driver’s license or passport)
  2. Social Security number or taxpayer identification number
  3. Proof of address (utility bill, bank statement, etc.)
  4. Documentation connecting you to the reported address or property
  5. Original signatures (some states require notarization)

For claiming property of a deceased relative, you’ll need additional documentation:

  1. Death certificate of the property owner
  2. Documents proving your relationship to the deceased (birth certificates, marriage licenses)
  3. Court documents or other signed legal documents giving the claimant authority to act on the owner’s behalf.
  4. Social Security number of the deceased (if not included on the death certificate)

State-Specific Claim Processes

Each state administers its own unclaimed property program, which means requirements and procedures vary. Some states offer online claim systems, while others require paper forms.

Most states have simplified their claims process in recent years, with many now offering:

  • Electronic document submission
  • Online claim status tracking
  • Direct deposit for payments
  • Customer service representatives to assist with complex claims

For example, in California, residents can file online if the amount is less than $5,000 and they are the sole owner of the missing money. If the unclaimed money is owned by multiple parties, each owner needs to sign a Claim Affirmation Form.

Timeframes for Processing Claims

Claim processing times vary widely depending on the state, the complexity of the claim, and the amount of money involved. Some states complete this process in less than 30 days, while others might take several months.

During the Economides family’s claim process for their father’s $142,808.90, they found that going through their estate attorney was more efficient than working with a third-party finder company. The attorney’s expertise in handling the necessary legal documentation streamlined the process considerably.

Following Up on Claims

Persistence is key when following up on unclaimed property claims:

  1. Always keep your claim number and all correspondence.
  2. Document all phone calls, including names of representatives and dates
  3. Set calendar reminders to follow up if you haven’t heard back within the expected timeframe.
  4. Use your state’s online tracking system if available.

Remember Shelly’s experience – she needed to make “several follow-up messages and calls to the county treasurer” before eventually receiving her $3,000. Persistence paid off for her, just as it could for you.

What to Do If Your Claim Is Denied

If your claim is denied, don’t give up! You have options:

To rectify a denial, correct any errors and provide missing documents. If the denial stems from a misunderstanding or clerical error, include a clear explanation and supporting evidence.

Additional steps include:

  1. Request a specific reason for the denial
  2. Supply additional documentation that might strengthen your claim
  3. Appeal the decision through the state’s formal appeal process
  4. Consider consulting with an attorney if the amount is substantial

Tips for Navigating the Bureaucracy

  1. Be thorough: Complete all forms exactly as instructed and provide all requested documentation the first time.
  2. Keep copies: Make copies of everything you submit, including the claim form itself.
  3. Use certified mail: When mailing important documents, use certified mail with return receipt requested.
  4. Be patient but persistent: Government agencies often move slowly, but regular follow-up can help keep your claim moving forward.
  5. Stay organized: Create a dedicated folder (physical or digital) for all correspondence related to your claim.
  6. Consider legal help for complex claims: For substantial amounts or complex situations, professional assistance may be worth the cost.

Remember that there is no time limit for claiming your property from the state in most cases, so you can take the time needed to gather proper documentation and follow the process correctly.

Beware of Scams and Third-Party Finders

When searching for unclaimed property, it’s important to be aware of both legitimate services and potential scams. As the Economides family discovered with their father’s estate, third-party “finder” companies actively seek out people with substantial unclaimed assets and offer to help recover them—for a fee.

Legitimate Finders vs. Scammers

Stateline, a website that reports on a wide range of state issues summarizes the issues with finder companies. They say that legitimate asset locator companies, often called “finders” or “locators,” do provide a service by helping people locate their unclaimed property. However, these companies charge a fee or a percentage of the total value, which states often cap, sometimes at 10 percent.

In contrast, scammers operate very differently:

  • They often contact people randomly via email, text, or mail
  • They create a sense of urgency, claiming “time is running out”
  • They request upfront fees or personal information
  • They don’t provide proper contracts or identification
  • They may pose as government officials, attorneys, or estate representatives

Warning Signs of Unclaimed Property Scams

Be suspicious if you receive communications that:

  • Create a sense of urgency and fear with a warning that “time is running out to claim your money; respond right away”
  • Promise unexpected windfalls or inheritances that seem too good to be true
  • Request personal information like Social Security numbers, bank account details, or copies of your ID before verifying the offer
  • Come from generic-looking postcards prompting you to call a toll-free number
  • Contain odd punctuation, grammatical errors, or a mixture of fonts

Why You Should Claim Property Yourself

In the case of the Economides family, the third-party finder initially wanted to charge a 20% fee (approximately $20,000) for recovering their father’s missing assets. Even after negotiating down to 11%, this would have cost around $14,000-$15,000. By working with their estate attorney instead, they paid only $900 in legal fees to recover the full $142,808.90.

According to the California State Controller’s Office, “You have the right to obtain your unclaimed property without fees or lawyers by working directly with the State Controller’s Office staff. All the resources needed to search for and claim unclaimed property are available for free through many official government websites.

What to Do If You Receive Suspicious Correspondence

If you receive a notice about unclaimed property:

  1. Don’t respond directly to the communication
  2. Search for your name independently on official websites like MissingMoney.com or your state’s unclaimed property website
  3. If you find a match, file a claim directly through the official state website
  4. Report suspicious communications to your state’s unclaimed property office
  5. Never pay upfront fees or provide sensitive personal information to third parties

Remember, in some states, it’s illegal for investigators to contact the owner to offer their services after unclaimed property is reported to the state. The Los Angeles County District Attorney’s Office says that if you do choose to work with a finder company, verify they’re registered with your state and understand the fee limitations. In LA County, “it is illegal for investigators to charge more than 10 percent of the value of the property.” 

And as you can see from our experience these recovery firms often charge more than 10 percent. 

Preventing Future Unclaimed Property

The best way to avoid having your assets become unclaimed property is to stay organized and maintain regular contact with financial institutions. Here are practical tips to keep your money from ending up in state coffers.

Keep a Master List of All Accounts

Maintain a list of all your financial accounts. If you keep valuables in a safe deposit box, include it on your list. This master list should include:

  • Bank accounts (checking, savings, CDs)
  • Investment accounts and brokerage firms
  • Retirement accounts (401(k)s, IRAs, pensions)
  • Insurance policies (life, health, property)
  • Utility deposits
  • Safe deposit boxes
  • Digital assets and cryptocurrency accounts

Store this list in a secure location and ensure a trusted family member or executor knows where to find it in case of your death or incapacitation.


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Update Contact Information Promptly

Whenever you change your mailing address, email, or phone number, notify the credit union so they can update their records. This applies to all financial institutions, not just credit unions. Take these steps when you move:

  1. Create a checklist of all financial institutions that need your updated information
  2. Send change-of-address notifications before you move
  3. Set up mail forwarding with the postal service
  4. Update your email and phone numbers as well as physical address
  5. Verify that changes have been processed by checking correspondence

Keep Accounts Active

The simplest way to prevent accounts from becoming unclaimed property is to keep them active. Deposit or withdraw money from the account at least once a year to ensure the institution doesn’t assume the account has been abandoned.

For accounts you don’t regularly use:

  • Set calendar reminders to make transactions annually
  • Consider consolidating dormant accounts
  • Set up small automatic transfers or deposits
  • Check online account access periodically

Use Technology to Your Advantage

Modern financial management tools can help prevent forgotten accounts:

  1. Sign up for electronic statements instead of paper mail
  2. Enable account alerts and notifications
  3. Use financial aggregation apps to track all accounts in one place
  4. Set up automatic deposits for investment accounts
  5. Sign up for account access notifications to alert you of potential fraud

Prepare for the Unexpected

If you receive a notice alerting you to the fact that your account is considered “inactive” or “abandoned,” respond immediately to prevent the escheatment process from beginning.

Additionally:

  • Include financial accounts in your will or estate planning
  • Name beneficiaries on all applicable accounts
  • Create a digital legacy plan for online accounts
  • Consider a password manager to secure account information
  • Review your master account list annually

By implementing these practices, you can significantly reduce the chances of your hard-earned money becoming unclaimed property.

Conclusion

n today’s complex financial world, unclaimed money is surprisingly common. With billions of dollars waiting to be claimed and approximately 1 in 7 people having missing property, taking the time to search could yield unexpected rewards – as it did for the Economides family.

Throughout this guide, we’ve explored the journey of finding and claiming unclaimed property. From understanding what constitutes abandoned funds to knowing where to search and how to file claims, the process is straightforward but requires persistence.

The story of how Steve Economides discovered over $142,000 in forgotten Roth IRA accounts after his father’s passing demonstrates just how significant these overlooked assets can be. Similarly, his friend Sandi’s experience recovering $3,000 from a rental property deposit shows that unclaimed property can be found by anyone, not just heirs to large estates.

Remember, searching for missing money is completely free when using official government websites, and the claim process, while sometimes requiring patience, can be handled without expensive third-party services.

Take a few minutes today to search for your name – and the names of deceased relatives. You might be surprised by what you find!

Call to Action

Don’t leave money on the table that rightfully belongs to you. Search MissingMoney.com and your state’s unclaimed property website today – it only takes a few minutes and could result in a significant windfall.

Mark your calendar to repeat this search annually, as new properties are constantly being added to state databases. 

Consider sharing this article with friends and family too; they might thank you for helping them discover forgotten funds. Hey, why not do the searching for them and ask if you can get a finder’s fee when they get the money.

For more money-saving tips and strategies to improve your financial life, subscribe to MoneySmartFamily’s free newsletter. Learn how America’s Cheapest Family has been helping thousands of families save money, live debt-free, and find financial peace since 2003.

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