An Unclaimed Treasure Hunt
As of July 1st of 2020, the State of Illinois estimated that they were holding on to more than $3.5 Billion worth of assets at the Illinois State Treasurer’s Office, and almost all of it is just waiting for the rightful owner to claim it. A law passed in the 1960s set out rules that have turned State Treasurer’s Offices around the country into a lost and found for everything ranging from bank accounts to insurance policies to consumer refunds. They have taken it online to make it easy for citizens to claim what is theirs; you just need to know where to look.
It’s easy for Illinois residents to discover if they have assets waiting for them by searching the I-Cash website:
- Enter your name in the online search field.
- If it’s a match, fill out and submit the online claim form.
If you don’t immediately find any property that matches your name, you have the ability to narrow your search to a specific City or Zip Code. If you choose to narrow your search, try locations where you either currently or formerly lived and/or worked, as these are the most common addresses attributed to unclaimed property.
If you have ever worked or lived outside of Illinois, there could be further opportunities for searching. Each state maintains a similar free program for looking for lost assets, and this link provides an easy searching tool to get you to the right website; click your state on the map, and you will be redirected to your next treasure hunt!
Charlie Murin is a Wealth Manager at BDF. He is an active member of the firm’s Financial Planning Committee which is responsible for developing and improving the firm’s multifaceted planning process. Charlie earned a Bachelor of Science from the University of Illinois in Consumer Economics with a concentration in Financial Planning. He has his Series 65 license and is a CERTIFIED FINANCIAL PLANNER™ professional.