(Part 1 of 2)

It is no secret that the Rocky Mountains go straight through Wyoming, but there is an even more interesting mountain, of more immediate interest to the less half of a million people living in the Equality State – a mountain of money! Currently, the State Treasurer's Office holds in excess of $26 million in Wyoming unclaimed money, and waiting for the rightful owners to step forward and take what is theirs'.

The State Treasury web site lists the following as some of the more common types of assets that can become "unclaimed": credit balances, uncashed insurance claim payments, moneys distributable from trusts, stocks, safe deposit box contents, traveler's checks, money orders, deposits, savings accounts, customer overpayments, refunds, endowments, insurance policies, checking accounts, annuities, uncashed dividends. Each of these types of unclaimed money has its own dormancy period, which is the amount of years that must go by before they are deemed abandoned and law requires that they are turned over to the state. These dormancy periods differ greatly, but are usually 5 years in Wyoming.

Although Wyoming has returned millions of dollars to the rightful owners, most of it remains unclaimed, and the main reasons boil down to a lack of awareness about these assets. The good news is, Wyoming is a custodial state, and that means that they hold these monies indefinitely, and won't ever take possession of them. There isn't an expiration date on lost money.

(to be continued)

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