The global economy is far from ideal at the moment. Prices in almost all aspects of life are soaring uncontrollably and loans are slipping further and further out of reach. When put together, all these events lead to a common daydream, one in which we inherit an unprecedented amount of wealth that will financially secure not only us but our grandchildren as well.
While there is little chance that an unseemly large inheritance is just around the corner, there is a (considerable) possibility that there are certain unclaimed funds and assets attached to your name. It is estimated that there is $1.5 billion worth of unclaimed assets in Australia alone – so, why shouldn’t some of it be in your name?
This article will take a look at some of the possible pathways to uncovering whether you have either unclaimed money or property!
The city – starting small
Before going on a worldwide treasure hunt in search of a possible inheritance, consider centering your search on the local level, your city, county, state, and ultimately country. While there may be a few discrepancies, each governing area should have an available treasury website. It can be found through official government websites and a web search that is narrowed down to your specific location.
Once you are sure that the treasury website is official and trustworthy, search for the instructions and follow the necessary steps. If there is either unclaimed money or property that you have a legal right to, the treasury website will ask for some form of identification, such as a driver’s license or an ID card.
Genealogy – thinking outside the box
If there are no unclaimed assets on the local level, the next logical step should be to expand your search. However, here is where things tend to get a bit complicated. Namely, most people looking into unclaimed money and property are far from private detectives. In other words, they do not have either the knowledge or skillset to find missing assets even if they are out there.
Thus, to keep them on the right track, people may want to consider employing the help of professional genealogy services. Trained genealogists have the skillset required to locate both missing assets and ancestors. Furthermore, they are well-versed in the letter of the law and will know which petitions to file and which websites to search through. In short, professional genealogists will save you both time and money, possibly even uncovering an inheritance or two along the way.
Funds – looking in the unlikeliest of places
As we move through life, we will inevitably be met with several job transfers and a few career changes. While such moments come with turbulence, they also present us with the possibility of claiming money we may not even know existed.
When you earn a promotion or transfer jobs, there is a possibility that there may be certain retirement savings or past benefits left unclaimed. If these transitions occur multiple times throughout your life, there is an even greater chance of something like this happening.
To check whether you are entitled to unclaimed savings or past benefits, it would be best to contact the national retirement benefit registries. These offices will surely hold information about past employers that may be useful. If there happen to be unclaimed benefits or savings related to your name, the registries will require a confirmation of identity, most commonly through submitting a state-issued document.
In truth, there is little chance that anyone reading this will inherit millions in the near or even distant future. However, this does not mean that there is not something wonderful waiting for us around the corner. All it takes to inquire into unclaimed money and property is a bit of help, a ton of desire, and the willingness to start – after all, it will cost you nothing to try!