DES MOINES – State Treasurer Roby Smith encourages Iowans to add finances to their spring-cleaning to-do list, which can help prevent assets from becoming unclaimed. “As administrator of the Great Iowa Treasure Hunt, I not only protect Iowa’s unclaimed assets, I take it one step further,” said Smith. “I want to help Iowans prevent their money from becoming unclaimed in the first place. With spring finally here, I’m providing tips to help you declutter your finances and keep track of your money.”
- Spring into action. Preventing your assets from becoming unclaimed requires planning. Document each of your financial accounts, save it somewhere secure and prioritize checking on them regularly to keep them active. To help you create a list, use the Vital Statistics document on IowaTreasurer.gov.
- Dust off your beneficiary list. Most of us know having a beneficiary listed on retirement savings and insurance policies is important. However, someone may forget to update it during appropriate times, such as in the event of a death or a divorce. Take this time to make sure your list of beneficiaries is accurate.
- Refresh your estate plan. Estate claims are common in the world of unclaimed property. Having an up-to-date will on record helps those closest to you know what to do with your assets in the event of your death. Experts recommend reviewing your will every five years or as changes occur.
“Spring is perfect for new beginnings,” concluded Smith. “Let this year be the beginning of your financial refresh with these tips. Think your assets might have already been turned over? Visit GreatIowaTreasureHunt.gov and search your name to see what is waiting for you.”
The Great Iowa Treasure Hunt is Iowa’s only legitimate source of unclaimed property. Each year, millions of dollars are turned over after financial institutions and businesses lose contact with the owner. Examples include forgotten checking and savings accounts, stocks, uncashed checks, life insurance policies, utility refunds and safe deposit box contents.
Stay connected with the Treasurer on Facebook, Twitter and Instagram to stay up-to-date on all areas of the office.
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