By Gabriel Geiger
Three Reasons to Look for Unclaimed Funds for your Older Relatives
1. Who doesn’t like to find money! Finding unclaimed funds is like finding a $20 in the pocket of last winter’s coat. Let your fingers do the walking by doing your research on the internet.
2. Sometimes companies lose track of their customers through moves or death. Yet, the money is still owed. Contact insurance and utility companies.
3. Bank accounts and retirement accounts can be forgotten. Check with the “Abandoned Property” list of the state of residence.
Have you been solicited by a for-profit business that is happy to do this research and file a claim for a fee? Remember you can do it for free! The claims process is simple, but sometimes you or your relatives might benefit from a nudge or a coach. Lifespan can be that coach and help you organize your finances.
Bonus Tip:
Did you have a relative who lost money to a scammer and paid using Western Union between January 1, 2004 and January 19, 2017? If so, they can now file a claim to get that money back. Go to:
www.ftc.gov/enforcement/cases-proceedings/refunds/western-union-settlement-faqs
LINKS:
www.lifespan-roch.org or www.lifespan-roch.org/financial/
Guest Name: Gabriel Geiger
Bio: Gabriel is the Director of Financial Services at Lifespan of Greater Rochester, Inc. where he handles bill pay services, health insurance, Senior Medicare Patrol, and long term care insurance and planning. He received his Bachelor’s Degree at State University of New York as well as attended Management School at New work State Bankers Association. Gabriel is a Certified Aging Services Professional (CASP) with a Certificate of Gerontology from St. John Fisher College. He spent 18 years in banking and has spent an equal amount of time assisting clients and caregivers with their finances at Lifespan.
