At Alaska Wealth Advisors, we’re committed to going the extra mile for our clients. Whether it’s devising innovative savings strategies, optimizing investment allocations, or assisting you in achieving your retirement goals, we’re dedicated to ensuring your financial success. While we assume many roles in serving our clients, one title that might surprise you is “treasure hunters.”
We’re not referring to swashbuckling adventurers seeking hidden treasures in remote islands, but rather to our work with the Missing Money and Alaska Unclaimed Property databases. This task is a part of our pre-meeting preparations for each and every client, and it’s a personal favorite of mine. It feels like a modern-day treasure hunt, uncovering funds that our clients may not even be aware of. These unclaimed assets consist of many different accounts and financial resources that have been forgotten about. The list of unclaimed property is long, including checking and savings accounts, uncashed payroll checks, unclaimed stock dividends, insurance payments, inactive stock brokerage accounts, refund checks, money orders, traveler’s checks, mineral proceeds, and life insurance proceeds. In today’s digital age, you never know what financial treasures might be waiting to be discovered.
One of our clients found $6,600 in back child support payments. This was a remarkable case, as the money had been forgotten about and when she found it, her child was now in her 30’s with kids of her own. The client had ceased receiving child support from their ex-spouse years ago when the program transitioned to a debit card payment system. Assuming there were complications with the payments being fulfilled, they chose not to pursue the matter and stopped receiving checks. However, during a review meeting, we stumbled upon a report for missing money. After a bit of investigation, our client unearthed $6,600 that had been patiently waiting for them.
The database entries typically provide some basic details, such as the name associated with the claim, the origin or holder of the funds, and a zip code. The owed amount is categorized into ranges: $0-$25, $25-$50, $50-$100, or OVER $100. In another case, we discovered a claim for OVER $100 in the name of one client, with an energy company as the holder. After we alerted her to this opportunity, she filed her claim and was ecstatic to find $20,000 in her possession. These funds were attributed to unpaid oil royalties. What made this case even more remarkable is that, inspired by her success, she embarked on her own treasure hunt and located an additional $10,000 for her mother. Given the limited information available on the site, this serves as a compelling example of why it’s worthwhile to explore what might be out there.
We primarily rely on two websites for our treasure hunting: Alaska Unclaimed Property, which specifically lists outstanding funds for Alaskans, and Missing Money, a national database. Below, you’ll find the links and some instructions on how to claim these assets:
Use this link to access Alaska’s Unclaimed Property website with claim instructions.
National Missing Money Database: Click Here
- Search your first and last name, and filter by Alaska
- Click the claim button
- Enter claim information and submit
While these claims might not always result in a highlighted scenario, they are unquestionably worth pursuing. Even if it’s just a few dollars, we view it as an excellent opportunity to enjoy a Kaladi Brothers coffee during your next review meeting in our new building. With recent updates, the claims process has become more user-friendly and seamless, making it a valuable endeavor. This attention to detail is just one more aspect of our comprehensive financial approach that you can always count on.
Associate Financial Advisor
Alaska Wealth Advisors, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Alaska Wealth Advisors’ investment advisory services can be found in its Form ADV Part 2 and/or Form CRS, both of which are available upon request. Material presented has been derived from sources considered to be reliable, but accuracy and completeness cannot be guaranteed.