State Of Wisconsin Has Unclaimed Money, Is Any Owed To You

Like with almost every other state in the USA, the tag has got attached to the State of Wisconsin too. It is high time you seriously carry out a search for unclaimed funds accounts for any and everyone that you can think of like family, friends, in-laws, co-workers and even neighbors. You will be left totally bewildered on seeing how many people you know have unclaimed funds owed to them.

Every year billions of dollars of unclaimed money and property is turned over to the State by companies who cannot locate the owners. Unclaimed money and property is usually in the form of bank saving accounts, safety deposit vaults, deposit certificates, estates owned, money orders that were not cashed, insurance policies that are terminated or matured, term deposits, non refunded utility deposits and many other sources. Companies cannot hold on to money owed to another indefinitely. When the company cannot find the property owner, the money must be handed over to the State.

According to officials, Wisconsin unclaimed funds total around $330 million and with the State's population at 5 million residents, that's roughly 1 out of 5 residents owed Wisconsin unclaimed money.

Unclaimed property is turned over to the Treasurer's Office when lost assets aren't returned to their owners after a given period. The 'dormancy period' for Wisconsin abandoned funds is 5 years. The only tangible assets under the Wisconsin Unclaimed Property Law are contents of safety deposit boxes that have been deemed abandoned. The State Treasurer's Office tries to locate the owners of the assets in every possible way, but ultimately has to auction them off after a few years.

Some of the interesting and amusing facts that were unleashed during recent interviews of State Treasury officials were that there were running out of space to hold the unclaimed assets and this was one of the prime reasons leading to the auctions. The proceeds from these items are then held by the state like other forgotten monetary assets and are used by the state until their owners come to claim them. These funds from auctioned unclaimed items in Wisconsin can still be claimed at any time though.

One of the biggest checks for received by an individual was worth $750,000. All the more reason that residents should do an unclaimed money search and see what they have in store for them. People find be surprised to hear that unclaimed money paid out from the State of Wisconsin totals over $155 million dollars! The average claim is $756.32. Most people would be pretty happy to receive $756 in their mailbox.

The easiest way to see if you have unclaimed money is to enter your name into a free unclaimed money search. It will tell you if your name is showed as owed unclaimed money!

You should not delay in checking to see if you, or your family, is owed unclaimed money from the state of Wisconsin or any other state!