| According to the KY State Treasurer, the state is now | | | | Though there are dozens of different potential |
| holding more than $150 million in unclaimed property | | | | sources of lost money in Kentucky, the State |
| that belongs to the citizens. The only things standing | | | | Treasury's website provides the following list of the |
| between 200,000 people and their slice of the pie are | | | | most common types: "dormant savings and checking |
| awareness of these forgotten assets, and the ability | | | | accounts, unclaimed wages, dividends, credit balances |
| to locate and reclaim their Kentucky unclaimed money. | | | | and any type of outstanding checks." |
| The Kentucky State Treasury boasts about how | | | | A common misconception is that you should only |
| much money it has returned in the past 13 years, "In | | | | search for unclaimed money in your home state. This |
| 1994, the General Assembly transferred responsibility | | | | couldn't be more wrong, not only because many |
| for the unclaimed property fund to the Kentucky State | | | | people have lived in numerous states throughout their |
| Treasury. Since then, about $28 million has been | | | | life, but also because you don't have to have lived in or |
| returned to rightful owners." $28 million sounds like a lot, | | | | even been to a state that might owe you money. |
| but when you spread that out over 13 years, they're | | | | Many people work for companies that have their |
| only returning a little more than $2 million per year, on | | | | headquarters in another state. If these companies owe |
| average. Much more than that is turned over to the | | | | someone money, but are unable to track them down, |
| state each year, so the $150 million the state currently | | | | the cash is supposed to be reported to the state |
| holds will certainly grow. Even if Kentucky was to stop | | | | where the company is incorporated. |
| taking any more abandoned money today it would still | | | | In addition to searching the records of more than one |
| take them 75 years to return the $150 million currently | | | | state, people need search more than once, because |
| being held, based on their current rate of $2 million per | | | | unclaimed money lists are sporadically updated. If a |
| year. | | | | property hasn't been dormant long enough to be |
| It's not surprising that most people simply dismiss the | | | | considered "unclaimed" by the state, the original holder |
| idea of unclaimed funds as some sort of scam, | | | | won't have turned it over, which means the state will |
| because it's difficult to believe that there are billions of | | | | have no record of it. Often times, even after the state |
| dollars across the country that people simply forgot | | | | has received a particular account, their system will still |
| about over the years. Who ever just "forgets" that | | | | not have a record of it for some time, because |
| they have money somewhere? Well, apparently a lot | | | | someone who works in the appropriate department |
| of people. Not surprisingly, the states (including | | | | must physically add the record to the system. |
| Kentucky) lack the resources to track down every | | | | With these issues, and dozens more, it's no wonder |
| single person who is owed missing money. | | | | that residents have difficulty locating their funds. As |
| Government doesn't do much efficiently, why would | | | | these surpluses of cash grow, so does the confusion |
| returning money to the people be any different? | | | | about how to find it, so it's more important than ever to |
| Citizens of the Bluegrass State need to take matters | | | | seek the assistance of an expert in this area to help |
| in to their own hands if they ever want to discover the | | | | you in your search. |
| joys of found money. | | | | |