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Below are the first and last sections of an excellent ABC NewsReport, "How Safe Is Your Safe-Deposit Box?", by Elisabeth Leamy:

http://abcnews.go.com/m/screen?id=4832471

First Section: "A woman says the state took her property and sold it for a fraction of its cost."

The 50 U.S. states are holding more than $32 billion worth of unclaimed property that they're supposed to safeguard for their citizens. But a "Good Morning America" investigation found some states aggressively seize property that isn't really unclaimed and then use the money -- your money -- to balance their budgets.

Unclaimed property consists of things like forgotten apartment security deposits, uncashed dividend checks and safe-deposit boxes abandoned when an elderly relative dies.

Banks and other businesses are required to turn that property over to the state for safekeeping. The problem is that the states return less than a quarter of unclaimed property to the rightful owners.

Last Section: "Protecting Your Property"

So, the question for citizens is, how do you protect yourself?

Make contact with your bank, your brokerage firm, etc. at least once a year, in a way that creates a paper trail. Make sure they have your current address.

If you own stock, occasionally vote your proxies or take other steps to keep your stock ownership active. Stay in touch with your broker.

Write a list of all your accounts and keep it with your will, so your heirs will know where to look.

Consider insuring valuables even if you keep them in your safe-deposit box. That way, you're covered financially if the bank or state makes a mistake and empties your box. Plus, safe-deposit contents have been known to be destroyed by fire or flooding.

If you want to search for unclaimed property in your name, you do not need to pay other people to do it for you. Check out the following links for more information:

National Association of Unclaimed Property Administrators

http://www.unclaimed.org/

http://www.missingmoney.com

(Note: I checked missingmoney.com and was more than surprised to find a New Hampshire entry for my exact name in my zip code for "ANY OTHER MISCELLANEOUS OUTSTANDING CHECKS" held by the state. I claimed it and I'm curious to see what happens next.)

Hey, give it a try!

- Ed Smith, Publisher
The EHS Letter Manual