When it comes to retirement savings, many investors prefer to just set it up and then forget about it so that it will continue earning interest and returns until it comes time to retire. Unfortunately, while such a practice might be good for your mental health because it keeps you from becoming worried about every little downturn in the market, setting and forgetting your account puts it at risk for escheatment.
What is escheatment?
This just means that the managing firm on the account will be required to turn it over to your state's unclaimed property fund because you aren't actively managing it. On one hand, escheatment keeps accounts from ending up in limbo after an investor passes away and their...
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