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The last thing you want is for your child to have their identity stolen. The good news is there are ways to protect them from financial fraud.
Author's Note: 10 Sources of Unclaimed Money
Thank goodness for my wife. If left to my own devices, my finances would be in shambles. The woman hates being the family budget master (mistress? goddess?), but she knows better than to trust our family's financial recording keeping to the guy who can't remember the name of our bank. My dad occupied this role for an embarrassingly long time, well into my early professional career. He was the one who would remind me to roll over a 401(k) when I left a job, and convince me to sign up for automatic transfers from my checking account into a savings account. Now my wife is the unfortunate soul who has to nag me to document my business expenses and dig crumpled receipts out of my pockets. When each month draws to a close and I see her hunched over our overspent budget — shoulders tensed in deep frustration — I do my best to show my undying appreciation and affection for her difficult task. Tender caresses are usually useless, but brownies are surprisingly effective.
- Federal Deposit Insurance Corporation (FDIC). "History of the FDIC." (March 6, 2014) http://www.fdic.gov/about/history/
- Federal Deposit Insurance Corporation (FDIC). "Unclaimed Funds." (March 6, 2014) http://www2.fdic.gov/funds/index.asp
- Hicken, Melanie. "$58 billion unclaimed: Is some of it yours?" CNN Money. Jan. 27, 2013. (March 6, 2014) http://money.cnn.com/2013/01/24/pf/unclaimed-money/
- IRS. "Does the IRS Have Money Waiting For You?" Aug. 3, 2011. (March 6, 2014) http://www.irs.gov/uac/Does-the-IRS-Have-Money-Waiting-For-You%3F
- IRS. "IRS Seeks to Return $153 Million in Undelivered Checks to Taxpayers." Nov. 30, 2011 (March 6, 2014) http://www.irs.gov/uac/IRS-Seeks-to-Return-$153-Million-in-Undelivered-Checks-to-Taxpayers%3B-Recommends-e-file,-Direct-Deposit-to-Avoid-Future-Delivery-Problems
- MIB. "Policy Locator Service." (March 6, 2014) http://www.mib.com/lost_life_insurance.html
- National Credit Union Administration (NCUA). "Unclaimed Deposits" (March 6, 2014) http://www.ncua.gov/Resources/AM/Pages/UnclaimedDeposits.aspx
- PA Treasury. "Unclaimed Money." (March 6, 2014) http://www.patreasury.gov/unclaimedProperty.html
- Pension Benefit Guarantee Corporation. "Find an Unclaimed Pension." (March 6, 2014) http://search.pbgc.gov/mp/
- Sullivan, Paul. "For a Fee, Seeking Owners of Unclaimed Money." The New York Times. June 21, 2013. (March 6, 2014) http://www.nytimes.com/2013/06/22/your-money/seeking-owners-of-unclaimed-money-for-a-fee.html
- Sullivan, Paul. "Tracking Down and Collecting Unclaimed Life Insurance." The New York Times. Feb. 25, 2011. (March 6, 2014) http://www.nytimes.com/2011/02/26/your-money/life-and-disability-insurance/26wealth.html?pagewanted=all