Money and monetary property can become lost due to lack of communication between companies and owners. You should contact institutions that hold your money every year, especially if you changed address or marital status. Keep accurate financial records, and record all insurance policies, security investments as well as rent and utility deposits.
Here are some tips on how to prevent your money from becoming unclaimed:
- Record all security investments and be sure to cash all dividend cheques received.
- Record all utility deposits, including telephone, cable and electricity deposits.
- Prepare a check list of all accounts to be notified when you change your address.
- Respond to legitimate companies requesting confirmation that you want to keep your account active.
- If you change your name and/or address due to marriage, divorce or other legal action, notify your:
- Credit card issuer
- Life and health insurance contact
- Mortgage lender
- Acccountant and/or investment manager
- Safe deposit box holder
- Notify your business contacts of your address change when you move.
- Cash all cheques promptly upon receipt, no matter how small.
- Leave a forwarding address with your employer before leaving a job.
- Check in with your former employer within six months after leaving a job to ensure you have received all of your paycheques.
- Have a well-prepared will.