| Utah may be known as the Beehive State, but | | | | search results as the beginning and end of a |
| the UT State Treasurer's Office is holding a | | | | search. The next biggest mistake is believing that |
| treasure that's sweeter than any honey. Each | | | | all search sites are the same. |
| year millions of dollars in abandoned assets are | | | | What most people don't realize, even once they're |
| turned over to the state treasury department in | | | | aware of the reality of unclaimed funds, is that |
| the form of Utah unclaimed money. As of 2005, | | | | there are actually very few sites that offer the |
| the state treasury was holding more than $100 | | | | official state records. For starters, most of these |
| million dollars, waiting for the rightful owners to | | | | sites are unreliable to the point that a person |
| step forward and take back what is owed to | | | | would be completely wasting their time to get |
| them. | | | | involved with them. But even the official state |
| Though it's tough for most people to believe that | | | | records are often incomplete for a variety of |
| this money is real, because it's almost | | | | reasons. For one, each type of asset has its own |
| inconceivable that people could simple "forget" | | | | dormancy period, or period of time that must |
| about such large sums of money, but in fact | | | | pass before law requires a holder to turn the |
| unclaimed property comes from accounts and | | | | asset over to the state. Even after assets are |
| assets most of us have and use on a regular | | | | turned over to the state, someone has to |
| basis. Though there are dozens of different | | | | physically add the record to Utah's unclaimed |
| types, the UT State Treasurer's website lists the | | | | money listings. For this reason, search results |
| following as the most common sources of lost | | | | showing no claims might be misleading if the |
| money: "checking accounts, certificates of deposit, | | | | record just hasn't been turned over or the state |
| overpayments, gift certificates, paid-up life | | | | hasn't added it to their system. |
| insurance policies, unpaid wages, commissions, | | | | Despite these issues, and many others that |
| uncashed checks, death benefits, dividends, | | | | plague beginners, people can learn the search |
| insurance payments, money orders, refunds, | | | | methods of professional searches and implement |
| savings accounts, stocks and contents of safe | | | | them in their own searches. Far too often, citizens |
| deposit boxes". | | | | jump in to the unclaimed asset game without |
| While locating missing many can be easy for | | | | knowing where to begin and they spoil their own |
| those that know what they're doing, there are | | | | potential for finding lost treasure. If everyone |
| dozens of obstacles that can and often do get in | | | | would spend just a little time educating |
| the way of people trying to find their cash. Most | | | | themselves on where to search, and how often |
| of these obstacles amount to being uneducated | | | | they should search, everyone would stand a |
| about how to perform thorough searches to | | | | better chance of taking back money that is |
| ensure all possible claims have been discovered. | | | | rightfully theirs, instead of letting it collect dust in |
| When starting out, it's often easy to fall in to the | | | | some government office. |
| trap of just searching one time and accepting the | | | | |