08 Sep How can I track down an old account? What will it cost?

Q. We were contacted by a woman that buys lists of unclaimed money to gain a large percentage upon returning it. Apparently, our grandmother invested into a UTMA account in 1989 for our brother with Down syndrome and it was forgotten. Our grandmother passed in 2022 after some years of Alzheimer’s and dementia, and our mom died last year from sudden late stage cancer. Two of us siblings are taking care of our brother now together. This woman wants 25% of the account value for her service. How can we learn where the money is?
— Uncertain

A. You certainly don’t need to pay someone to help you locate the funds.

It will just take some time and some paperwork.

Every state has an unclaimed property division that holds financial assets that have been inactive, unclaimed or otherwise abandoned by its owner.

The bank, investment company, or even government entities will hold these financial assets for a period of time, typically five years. Then the funds would go to the state’s unclaimed property division.

We would guess this account opened by your grandmother would be held by the state where she lived at the time. Each state allows you to search under someone’s name to make sure there are unclaimed assets before you apply.

Then you can help your brother complete the forms.

You can find links to your state’s unclaimed property division at missingmoney.com.

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This story was originally published in September 2025.

NJMoneyHelp.com presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.