Finding unclaimed money can be an exciting adventure, and the Internet makes finding lost money a fairly simple process. That said, knowing exactly where to search for abandoned property or assets and stocks can make the difference between finding missing money and leaving unclaimed inheritance in a state's possession. For people searching for unclaimed cash in Washington state, certain websites and state government agencies handle lost money, and the process for claims involves very specific steps that need to be followed.
Unclaimed Inheritance
Unclaimed inheritance is one of the most common forms of missing money. If a relative dies and leaves behind a life insurance policy, an unknown bank account, a final paycheck, or some other asset, then his or her heirs may not know about such unclaimed Washington funds. The lost money must be reported by the company or agency holding it, and the amount is then transferred to the state of Washington and the Department of Revenue.
Lost Money
From there, the assets are listed in a database. The unclaimed Washington state funds website lists lost money by last name and first name. Enter the name of the person believed to have unclaimed inheritance, or the name of the deceased. The database will give the person's name, the holder of the unclaimed money, and whether the amount is less than or more than $100.
Sometimes unclaimed money is listed under incomplete names, so it is helpful to use different versions of names (i.e. full name, last name and first initial) to see if any unclaimed inheritance or lost money appears. If the name being searched is common, such as "John Smith," then finding lost money in Washington state can be even harder, so knowing the last address lived in Washington is critical.
Unclaimed Washington State Funds
To attempt to receive unclaimed Washington state funds, there are two options. To make a request online, click "Pursue Claim." Registration is required, and claimants must answer a series of questions to help determine whether they are eligible for the abandoned property.
The second option allows claimants to print online forms and mail the forms to:
Department of Revenue
Unclaimed Property Section
PO Box 47477
Olympia, WA 98504-7477
Claimants must provide requested proof of identity and validity to receive lost money. In addition, if the unclaimed inheritance involves a previously closed estate, claimants may need to consult the original estate executors to request that the estate be reopened to disburse the newly discovered assets, stocks, or other unclaimed Washington state funds.
Lost Assets, Stocks, and Abandoned Property
Finally, if assets, stocks, and abandoned property cannot be found in the Washington database, a nationwide search may be necessary. To learn more about unclaimed money or building assets, turn to these articles for help:
Free Unclaimed Money Search - this article gives specifics on making more general, nationwide searches. Unclaimed property can be found in unusual places, so it pays to conduct searches in as many databases as possible.
Cash Out UPromise Without a 529 Plan - this article details how UPromise account owners can request a check to receive the cash in the account, bypassing the need for a 529 plan.
Melanie Zoltan - Melanie Zoltan is a former college professor and administrator who has written for About.com, PCWorld, Brain Child, Thomson Gale, and ...
Comments