Did you know that if you don’t stay in contact with your financial institution, you can “lose” your money? Where does it go? To the state in which you last lived, as far as the financial institution is aware. That state holds it as Unclaimed Property. They would really like people to come claim it, and ideally, spend it, putting it back into the economy.
How do I find out if I have Unclaimed Property in Missouri?
It is easy and just takes a few seconds, really! Go to www.showmemoney.com, type in your last name, leave a space, then a few letters of your first name. Did your name pop up? Then you have Unclaimed Property! Be sure to check other names you have had, such as maiden names or other married names.
How do I get my Missouri Unclaimed Property?
If your name popped up then click on the word “Select” next to your name, then click on the “File a Claim” button under your name. Most people can file a paperless claim this way. If not, you can mail in a request; just follow the instructions online.
How much does it cost?
Do not pay anyone to find or get you your Unclaimed Property. Just go to the Missouri Treasurer’s website.
What if I had lived in other states, too?
Go to www.unclaimed.org to check the websites of other states in which you have lived. They also have a great page with links to other types of lost money, like undeliverable federal tax refund checks, veterans’ benefits you may be due, and lost money in overseas accounts.
What kind of items can become Unclaimed Property?
The property comes from bank and brokerage accounts, stock dividends from certificated shares, and unclaimed insurance proceeds, among other items.
How much money does Missouri have in Unclaimed Property right now?
Missouri’s Unclaimed Property database currently holds over $1.5 billion in assets in more than 10 million accounts. One in ten residents has unclaimed property, and the average return when people claim their property is around $300.
How long does the money sit in Unclaimed Property in Missouri?
The money does not ever go to Missouri; it just sits there waiting to be claimed by you or your heirs. So go get your money, the state wants you to spend it! But you know what I would tell you… spend some, share some, invest some.
Michele Clark
Michele has more than 25 years experience in financial services and has developed a specialization in working with people who are starting to seriously think about their retirement or who are retired and facing all of the complex planning issues one faces during this time.
She works with clients to coordinate decisions around investments, retirement accounts, Social Security, funding health care, tax planning, cash-flow, maximizing employer benefits, charitable gifting strategies and estate planning.
Before joining Acropolis Investment Management, Michele was the founder and managing principal of Clark Hourly Financial Planning and Investment Management for nearly nine years with an additional sixteen years at banks and investment firms.
Michele has been quoted in such online and print media outlets as The Wall Street Journal, Money Magazine, USA Today, Market Watch, US News & World Report, CNBC.com, AARP, St. Louis Post Dispatch, Fox Business, Forbes, Los Angeles Times, Financial Planning Magazine, St. Louis Public Radio, Yahoo Finance, St. Louis Magazine, and others.
Michele earned her B.A. from Purdue University. She is a CERTIFIED FINANCIAL PLANNER® practitioner, obtained the Chartered Retirement Planning Counselor (CRPC®) designation from the College for Financial Planning, and is a NAPFA Registered Investment Advisor.
Michele has volunteered her time for financial literacy outreach at Financial Planning Days, Money Smart Week, Habitat for Humanity and others.
Michele has served on the Board of Directors of the Financial Planning Association of Greater St. Louis since January 2014 and is Past President and currently serving as Chair of the Board.