There Are So Many Myths That People Believe About Unclaimed Money

I can't actually believe that I saw someone post saying that the government doesn't have to give people their unclaimed money. This is absolutely not true!

I think back to all of those government-related shows that I watch on TV and they talk about how our government is supposed to be "for the people by the people". Now I know a lot of you would probably strongly disagree with this but lets at least try to get our facts straight!

Unclaimed money is classified as money that hasn't been claimed. It could be almost anything from long forgotten bank accounts to tax refunds, etc et all. The government has an obligation to find the owner of this unclaimed money. If the owner is deceased then the money would go to their heirs or next of kin. The government must make "resonable" efforts to find the owner. If the owner can't be found at a specific time frame only then will that money go back to the government.