We all know that the more crowded a place is, the busier the residents and hence the greater the chances of losing track of finances. The number of people and businesses owed unclaimed money in Alaska is surprising then in light of the fact that the population density is quite low in the Last Frontier. Over 300,000 accounts are listed in Alaska's unclaimed property list and 12,000 new accounts are added to the state list every year.

In the increasingly fast-paced lifestyle of modern-day America- working overtime and doing double-jobs, it's quite natural for people to lose track of things in their lives. Birthdays, anniversaries, doing the laundry, and yes- even financial assets. I'm not just talking about a few loose quarters and a couple of crumpled George Washingtons here. Uncollected salary checks, stocks, income tax refund checks, insurance and pension benefits, forgotten bank accounts and safe deposit box contents- these are just a few examples of financial casualties people tend to lose in their daily activities. Escheat laws require businesses and institutions to turn these unclaimed properties over to the state where they are put into an unclaimed property fund.

According Alaska's Department of Revenue, Tax Division website: "Unclaimed property is any intangible amount owed or held by an organization that remains unpaid, uncashed or has no evidence of positive owner activity for an extended period of time. Most property is considered abandoned after three years. Unclaimed property does not include overpaid contributions by employers to the unemployment compensation fund (hover over Unclaimed Property Tab at the top of the page for assistance), real estate, vehicles or most tangible property. Contents of a safe deposit box is the only tangible property that is reportable."

Residents of America's Last Frontier and relatives of residents should do a search for unclaimed money in Alaska even if they don't think they are owed money. There is no time limit to do a claim under the Alaska Unclaimed Property Act, but if you're missing money from unclaimed assets, wouldn't it be better to get all your lost money in your wallet now with the recession going on and the bills piling-up?