(Part 2 of 2)

In VT, the average unclaimed funds value is approximately $750. Many individual claims are for less than $50, but there have been windfalls for some people. A retired teacher was shocked with $150,000 from forgotten stocks her husband had purchased back in the 1960's. Even state agencies are on the VT unclaimed funds list. The state Transportation Agency has $60.87 from three different accounts and Vermont Senate President Peter Shumlin is owed abandoned assets by the state. Even members of the rock group Phish have unclaimed funds waiting to be discovered. The largest unclaimed account yet is for the massive amount of $980 thousand waiting for the lucky Vermonter to take it home. "In this case, it must be a fairly extraordinary person," Spaulding comments "There appears to be unclaimed property in the same name in other states. We seem to have determined she's very likely deceased with no will and no identified heirs."

According to the State Treasurer, "Unclaimed property refers to accounts in financial institutions, companies, non-profits, even state governments that are some kind of financially related property, whether it's a tax rebate or a savings account or travelers checks, or gift certificates, insurance policies. And when the institution, whether it's a private or public entity, loses contact with the person whose property it is, for a certain number of years, usually it's three or five years, they turn it over to the state to try to find the rightful owners. Every state has an unclaimed property office, and there are some easy ways for people to search and find out whether a particular state has something for them."

Spaulding also cautions his state's residents against individuals who may try to take a large chunk of their money by offering to help them locate their unclaimed funds for a finder's fee. Under VT Unclaimed Property Law, it is not legal for unclaimed funds finders to charge more than 10% on money found in the state of VT. Performing an unclaimed funds search yourself is the best way to go – it's a fairly simple process, once you've learned how and where to search.

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