First, keep track of all banking/financial accounts. E.g. those opened by or for a minor as well as brokerage accounts
Second, cash any checks you receive in a timely manner
Third, keep in touch with your bank, broker or agency who “handles” your funds. For example, many accounts are on- line accounts and are linked to your current email address. If your email address changes, there is no way to contact you.
Fourth, access your accounts regularly. Set up a system to track your accounts and check in on a regular basis. Some accounts require a periodic “transaction” even a small one, for example a $1.00 deposit or transfer. Ask your bank about their “dormancy” period.
Fifth, If you are legitimately contacted by a bank or broker for any update of address or contact information, do not ignore the request. But first, confirm that the bank or broker has actually made the the request/contact…do not be a victim of a scam.
Sixth, Since unclaimed property laws vary greatly from state to state, pay careful attention if: you have moved out of state or changed your address within the state; married or divorced and changed your name; or are managing an estate following a death.
Seventh, Prepare a will that details all of your assets. Keep it current. Your will should include all assets and the disposition of those assets. This is best handled by an attorney.
A site for those in Colorado is www.colorado.gov/treasury/gcp/faq.html - an excellent source of information about Colorado unclaimed property laws. FOR EXAMPLE, DID YOU KNOW?…”Safe deposit boxes become dormant and reportable to the State Treasury as unclaimed property three years after the rent has expired.”
Two other helpful sites are:
www.missingmoney.com and www.unclaimed.org
You may have unclaimed money waiting for you. One of my relatives accessed the site and "found" over $100 from an out of state property mortgage account they had owned!