Do You Have Unclaimed Assets in Your Home State? The Answer Might Shock You

You might have recently heard a lot of talk about unclaimed assets that people are completely unaware of. Though it might come as a surprise to many, the reality is that there are a lot of people who have unclaimed assets in their home state that they never even knew about.

At the current moment, countless individuals across the United States currently have unclaimed assets in their home state that are just waiting to be claimed. A few states that are notable examples of this phenomenon are Utah, Kentucky, and Missouri. Beyond these three examples, many of the other fifty U.S. states also have unclaimed assets that are unknown to those entitled to them.

Many Utah Residents Have Unclaimed Assets That They Are Totally Unaware of

This might come as a shock to you if you live in the state of Utah, but current statistics suggest that as many as one in every five residents currently have unclaimed money. This statistic comes from the Utah Unclaimed Property Division. In 2020, their office revealed that the state is currently holding properties across Utah that amounts to a total value that exceeds $50 million.

You may be asking how this situation has occurred. The truth is that the state of Utah has money and property that is turned over to its jurisdiction each year. This happens when an asset has had no activity take place by its rightful owner for an extended time period.

Whatever organization is currently holding onto this property will end up turning it over to the state. They also provide the last known address of the rightful owner. There are also businesses across Utah that have unclaimed money and property in the state. 2020 saw more than $6 million paid out to Utah businesses in terms of unclaimed assets. State officials in Utah have even held webathons that are designed to raise awareness of the significant amount of unclaimed assets that the state is currently looking after.

If You Live in Kentucky, You May Have Unclaimed Assets

Kentucky is another example of a state that is currently holding onto a significant amount of unclaimed assets that belong to its residents. At the current time, the state's treasury office estimates that these unclaimed assets add up to a total value of close to $500 million.

Kentucky law requires companies to perform their due diligence and notify those who potentially own unclaimed assets. When these assets and funds go unclaimed for more than sixty days, they come under the jurisdiction of the Kentucky State Treasury.

Missouri Is Another State Where Residents May Have Unclaimed Assets

The state of Missouri is yet another location in the United States where there are many residents who are completely unaware that they have unclaimed assets. Unclaimed property and assets in Missouri fall under the jurisdiction of the state's treasury office. It is a regular occurrence for individuals such as financial institutions, and businesses to turn over lost cash and assets to the state's treasurer.

The Missouri State Treasurer's Office currently estimates that as many as one in every ten Missouri residents currently have unclaimed assets. The average value of these assets per individual is $300. The good news for those that want to find out if they do have unclaimed property in Missouri is the fact that there is no charge to return it. There is even a convenient database that they can use to track any unclaimed property that might be out there.

Many Other U.S. States Are Currently Holding Unclaimed Assets

These are just three examples of states that currently have a lot of unclaimed assets that belong to residents that might be unaware of this fact. Those who live in Utah, Kentucky, and Missouri should certainly look into this topic to find out if they are among those that currently have unclaimed assets that they did not know about.

Many other states across the U.S. have a similar situation. Regardless of the state in question, there is a fair amount of certainty that many of its residents have unclaimed assets that they currently are unaware of. Though it might surprise you to find out that there is this much value in unclaimed assets that are currently out there, it is also worth looking into the matter if you think that you could potentially have property or money in your home state that you did not know about.

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