Unclaimed Money Blog

West Virginia Unclaimed Money and Assets

admin — Fri, 30 Jul 2010 23:05:05 +0000

Did you ever wonder what becomes of lost bank accounts and other financial assets whose owners (and relatives of the original owners) can’t be found? The Unclaimed Property Law requires financial institutions and businesses to pass them along to the government after a certain ‘dormancy period’. These monies will remain in the hands of the State Treasury until the true owners come for them. Additionally the law requires states to make efforts in getting the lost money back to their rightful owners. Some states show more progress than others when it comes to this and the state of WV routinely places among the nation’s top 10 in rate of return, according to a recent statement by the State’s Treasury Dept.

Surprised West Virginians all over the state have been getting unclaimed funds checks from financial assets they forgot about at some point in time . In Harrison County, a total of $193,563 has been given back to a handful of residents of the state in less than three weeks - this according to a recent report. In Beckley, a total of $220,000 in West Virginia unclaimed money checks were given out, and an elderly South Charleston woman was given $23,000 worth of United States Savings Bonds that were in her deceased sister’s name. “To receive $23,000 that you basically didn’t know existed is quite nice,” said Anne McConihay. “I had heard things about those bonds through the years but never saw any of them.” said the 84-year-old McConihay who also owned bonds purchased by her father but does not exactly remember what happened to them. “Ms. McConihay’s situation is a perfect example of why states should be given the responsibility of returning these bonds,” noted State Treasurer Perdue. “This money belongs to people, not the federal government. And states already have the systems and expertise in place to complete this mission.”

After getting $117 thousand from the State Treasury Office, Andy Bragg, of Southern West Virginia Paving said, “We were very surprised when the State Treasurer’s office called and told us they might have some unclaimed property that belonged to us.”

Despite efforts of award winning WV State Treasurer John Perdue to reunite forgotten funds that belong to his state’s residents however, there’s still roughly 110 million dollars waiting to be discovered in WV alone.

The WV unclaimed funds total is so large for the same reasons the national unclaimed funds from abandoned cash has amassed to more than $33 billion. According to State Treasurer John Perdue, unclaimed funds can arrive from a variety of sources - mainly because people just plain forgot about them. “They may have a paycheck coming to them that they didn’t realize or some stock their grandparents purchased when they were a child and it was forgotten in a safety deposit box,” Perdue says. “There are all kinds of unclaimed property examples where money was forgotten.”

Whatever the reason, residents of ‘The Mountain State’ should all do an unclaimed funds search in WV and other states. The most convenient and easiest way is to do this on the internet with the aid of a legitimate unclaimed funds professional who can teach you the best methods of doing effective and thorough searches for your unclaimed funds as well as pre-escheat property (lost assets not yet handed over to the state).

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Millions in unclaimed retirement money waits for worker claims
Look for lost pension and 401(k) money The average worker has at least seven jobs in a lifetime, so it’s not that unusual that a pension or 401(k) has been left behind and forgotten while climbing the career ladder.

Unclaimed Funds Help Unemployed Woman Pay Off Bills
After a News 5 story airs on forgotten funds waiting to be claimed, an area woman whos unemployed and unable to pay her bills checks the records for herself.

Find Unclaimed Money or Property that Belongs to You [Personal Finance]
# personalfinance The phrase “unclaimed money” may sound like the beginning of any number of spam email you’ve received and deleted, but unclaimed money and property are out there, and finding out whether you’re owed either is just a few web searches away. More

Pennsylvania Unclaimed Money

admin — Wed, 28 Jul 2010 12:05:05 +0000

Philly cheese steaks, chocolates, soft pretzels and TastyKakes aren’t the only great things you might find in Penn.. There is also the Liberty Bell, Christmas trees (Indiana County is the Christmas Tree capital of the world), steel of course, and last but certainly not least… nice piles of cold hard cash. Actually, cash from Pennsylvania unclaimed money to be exact. You read that right - roughly $1 billion in unclaimed money is with the Penn. State Treasurer’s Office and it’s just waiting to be discovered by the residents it belongs to.

Owners of Penn. unclaimed properties are usually residents (or former residents) of the state who’ve either forgotten about or lost track of their assets by changing addresses and jobs. People often forget to leave behind a forwarding address after they move and this ultimately results in undelivered mail which can contain items like tax refund checks. Escheat laws require abandoned assets be turned over to the care of the state after a number of years wherein they go unclaimed.

According to the Penn. State Treasurer’s Office, “Each year, Treasury receives millions of dollars in unclaimed property from abandoned bank accounts, forgotten stocks, checks that have not been cashed, certificates of deposit, life insurance policies, safe deposit boxes, and other sources. Treasury maintains custody of this unclaimed property, holding assets indefinitely, until it is returned to its rightful owners.” Lost assets can also come from traveler’s checks, money orders, expired gift certificates, uncollected or unpaid salaries and wages, and safe-deposit box contents. As a matter of fact, $157,290 in unpaid wages and salaries were reported to have been owed by the Heinz company recently and the company allegedly failed to report this to the State. Under Penn. Unclaimed Money Law, unpaid payroll funds held by businesses have to be remitted to the Pennsylvania Treasurer’s Office every two years and every 5 years for unclaimed assets like uncashed company checks and stock shares abandoned by shareholders. Pennsylvania State Treasurer Robert Casey recently stated, “By law, all businesses, financial institutions and legal entities must report and return all unclaimed property to the Commonwealth.”

The Penn. Unclaimed Property Div. and the State Treasurer attempts to notify owners of unclaimed money in Penn. state-run unclaimed money databases, advertising campaigns, and through letters. “Annual advertising and letter campaigns are just some of the methods Treasury employs to seek the owners of over $1 billion in unclaimed property. Treasury sends representatives to statewide public events year-round, including malls, consumer expos and fairs. Treasury also works with members of the General Assembly in helping determine if their constituents have unclaimed property”, According to a statement issued by the Treasurer’s Office of Penn..

Considering the enormous size of the Penn. unclaimed money heap though, it’s obvious that the state’s efforts are inadequate for the large number (tens of thousands) of Pennsylvanians owed unclaimed monies each year. If you believe you or anyone you know might have unclaimed money in Penn. or any other state, there’s no time like the present to get some lost money back in your pockets. Do an unclaimed money search ASAP!

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You May Be Owed Money Through Clerk Of Court
Thousands of people in the Upstate are owed part of some $900,000 through the Spartanburg County Clerk of Court’s Office.

State wants Rusk County property owners to know about unclaimed money
Almost half of all Rusk County property owners have unclaimed money from the state, so the Texas comptroller is planning what officials described Monday as an unprecedented, targeted outreach.

Virginia Unclaimed Funds

admin — Sun, 25 Jul 2010 14:05:05 +0000

The Commonwealth of Virginia is waiting for Virginians to come forward and reclaim their missing money. The state currently sits on top of a pile of VA unclaimed money totaling in the tens of millions of dollars. Over $27 million was returned to Virginians in 2005, but that’s only a small slice of what is yet to be claimed.

The state of Virginia, like every other state, continues to take in more unclaimed funds than it returns to citizens, mainly due to the fact that the majority of people are simply unaware of these monies, and those that are aware, don’t know the proper way to track them down. There is a right way and a wrong way to search, and sadly most people haven’t learned the correct way.

According to the Unclaimed Property Div of the VA Department of the Treasury, VA unclaimed money arrives from a number of sources, which include (but are certainly not limited to): savings and checking accounts, underlying shares, wages or commissions, credit balances, dividends, customer deposits, credit memos, gift certificates, refunds.

People don’t need to currently reside in VA to be owed unclaimed property, especially sense the majority of accounts must be abandoned for 1 to 3 years before they are handed over to the state, and laws governing other types do not require that they be handed over for seven, ten, even fifteen years! Moving out of state doesn’t mean that you’ve given up your rights to the money at all.

In addition to people who’ve moved out of state, some people may have never lived in The Commonwealth of Virginia. For example, some folks work for companies that have their headquarters in VA. Additionally, insurance companies are often located outside of the home state of the insured person. For these reasons, items like refunds, premium overpayments, and stocks might exist as unclaimed cash in VA, even if the rightful owner has never even set foot in the state!

People who live in VA should also search in other states where there is a chance they are owed money, for the same reasons that people who don’t live in VA should search the state’s listings.

There are a number of roadblocks that often prevent people from tracking down their missing money, but most of them boil down to being uninformed about the best way to search. Not only do most people get in their own way by checking the records in only one state, usually the one they live in, but they also tend to search once and call it quits.

As was mentioned earlier, each type of VA unclaimed property, and unclaimed property in all other states, have their own individual “dormancy periods” (amount of time that must pass before the funds are handed over to the state to hold until you claim them). In addition to some property types having long dormancy periods, states do not update their searchable records immediately, which means if the state is holding your monies, you may not find a record when searching, if they haven’t added it to their system.

If a citizen searches their name on Monday, but the VA Department of Unclaimed Money didn’t get around to adding the record of their monies until Tuesday, or the following week or month, the search might come up empty.

These are just a few of the hurdles that often get in the way of people trying to locate VA unclaimed funds for the first time, which is why it is imperative that you find someone with experience in this field to help you through the process to track down all potential claims.

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UNCLAIMED MONEY:State Revenue Department looking for former WaMu customers
DOR is seeking owners of $9.8 million in deposits at the former Washington Mutual bank

Telford Lotto winner running out of time to collect

Wyoming Unclaimed Property

admin — Fri, 23 Jul 2010 06:05:07 +0000

It is no secret that the Rocky Mountains run straight through Wyoming, but there’s an even more interesting mountain, one of more immediate interest to the less half of a million people living in the Equality State - a mountain of cash! Currently, the State Treasurer’s Office is holding in excess of $26 million in Wyoming unclaimed money, and waiting for the actual owners to step forward and take what is theirs’.

The State Treasurer’s web site names the following as some of the more common types of property that can become “unclaimed”: savings accounts, deposits, refunds, customer overpayments, insurance policies, endowments, and annuities, checking accounts, credit balances, uncashed dividends, moneys distributable from trusts, uncashed insurance claim payments, safe deposit box contents, stocks, money orders, traveler’s checks. Each of those types of unclaimed money has a unique dormancy period, which is the amount of years that must pass before they are deemed abandoned and law requires that they are turned over to the state. These dormancy periods vary greatly, but are most commonly 5 years in WY.

Even though WY has returned millions of dollars to the actual owners, the vast majority remains unclaimed, and the main reasons boil down to a lack of awareness about these assets. The good news is, WY is a custodial state, which means they will hold these monies indefinitely, and won’t ever take possession of them. There isn’t an expiration date on lost money.

As residents the state with the lowest population, citizens living in WY have excellent chances of discovering abandoned assets owed to them. But the majority of people are not aware that other states might be holding funds belonging to them. You do not even need to have been to another state for another state to be holding your assets. A lot of companies have offices and/or locations in numerous states, but they can obviously only be headquartered in one location. Because of this, employees sometimes lose track of money and not ever realize it even if they search, because the cash is being held by the state where their employer has its headquarters. Similarly, insurance companies often service many states, but they can only maintain one headquarters. Items like insurance overpayments will be handed over to the proper department in the state where the insurance company is incorporated, which isn’t necessarily the state where the insured person lives. These are just a couple of examples of why it’s very important that people search outside of their home state.

Aside from limiting searches to just the home state, beginners usually don’t realize that they ought to search numerous times. In fact, they ought to search regularly. Due to the varying dormancy periods for each kind of unclaimed money, and because someone at the State Treasurer’s Office has to physically put each record in to the system, the missing money list changes constantly. A search may find no record one day, but checking the following day could produce a nice treasure for a persistent searcher.

Experienced searchers have a lot of strategies that give them an edge when trying to locate forgotten funds, and the most successful beginners learn about these and put them to work in their own searches to be certain they’ve found all possible claims.

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$10 Million in Unclaimed WaMu Deposits: Is Some of The Money Yours?
OLYMPIA, Wash. (AP) - The Washington Revenue Department says nearly $10 million deposited in Washington Mutual went unclaimed after the Seattle bank failed in 2008. J.P. Morgan Chase received most of WaMu’s accounts, but inactive accounts were turned over to the Federal Deposit Insurance Corporation. The FDIC recently turned the funds over to the state.

Find missing money
You know that feeling you get when you find a five dollar bill in the ski jacket you haven’t worn in a year, or dig a twenty out from between the couch cushions?

UNCLAIMED MONEY:State Revenue Department looking for former WaMu customers
DOR is seeking owners of $9.8 million in deposits at the former Washington Mutual bank

Maryland Unclaimed Assets

admin — Tue, 20 Jul 2010 19:05:06 +0000

It has been stated by Maryland State Comptroller Peter Franchot, Maryland unclaimed money has surpassed half of $1 billion and is rapidly approaching 600 million dollars. As of May of 2007, the total held at 580 million dollars, and with more unclaimed property that is added consistently outpacing the amount handed back to the citizens, 600 million dollars is just around the corner.

After certain types of assets have been abandoned for three years or more (depending on the type), they are classified “unclaimed property”, and the corporation, insurance company, or financial institution holding them must turn them over to the State Comptroller’s Office. There many different of types of properties that can potentially become unclaimed property, but according to the Comptroller’s web site, the most common in Maryland are: wages, stock dividends, security deposits, contents of safe deposit boxes, bank accounts, insurance benefits.

The residents of Maryland should consider themselves lucky, because they live in what is known as a “custodial state”, which means there is never a time limit for them to claim their abandoned assets, and after a person passes away the rightful heirs may still claim it. But residents do have to act quickly on safe deposit boxes, because their contents will be auctioned off. The rightful owner can still at any time come forward and claim the auction proceeds, but if the item is of personal value, it might be gone forever.

Maryland missing money is not only for current residents, though. American citizens who used to live in Maryland may be due a claim, and even people who have never even been to the state, in some instances. When corporations that have businesses in multiple states across the nation, they are supposed to hand over forgotten funds to the state in which the corporation has its headquarters. So if a citizen has ever worked for a company that calls Maryland it’s home, they could be owed lost property, even if a search of the person’s own home state’s records didn’t turn up anything.

Because of the reasons stated above, Maryland residents should search the records of any other states where they may have lived or held a job or had business interests, even if they did not know it. Each state maintains its own list, so checking the records of just one state does not come close to being a complete search.

On top of searching multiple states, you should search them often. The Reason? Because you don’t know when they last updated the listings. For starters, the wide ranging dormancy periods are coming to an end for thousands of properties all of the time, but until they’ve surpassed this period, the state is not even aware of the money. Even after they’ve taken control of the funds the states often take a while before adding the account to their system. It takes an employee - someone actually adding the record - and we are all aware of how efficient government can be, aren’t we? Searching regularly is rule number one.

There are quite a few tips to help track down lost money that most beginners aren’t aware of, but a seasoned expert can teach people the “ins and outs” of locating funds owed to them to save them time and frustration, which often hinders people in their quest.

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Unclaimed cash for social projects
David Cameron is to set out plans to use hundreds of millions of pounds stuck in unclaimed bank accounts to fund social projects in a bid to kick-start his “Big Society” project. Related Stories Police start drilling at Tobin home Knox battles to prove innocence Probe as taxi driver shot in legs Kells Races rider killed in crash Waitress ‘is mother of Ronaldo son’

Are you the missing Lotto winner?
Unclaimed National Lottery ticket is worth

Georgia Unclaimed Money and Assets

admin — Sun, 18 Jul 2010 05:04:06 +0000

A recent report by the Chattanooga Times announced that millions of dollars in GA lottery winnings go unclaimed in GA and TN. Lottery officials say this is primarily caused by people that buy lottery tickets while they are driving through and forget to see if they have won or not.

According to another news report though, a larger amount of Georgia unclaimed money is being held by the State Treasurer’s Department. Hundreds of millions of dollars in abandoned assets are held by the state gov. and most residents are not aware that it’s out there. Catherine Westbrook, an elderly resident of the state was very aware though and became frustrated when she attempted to get a twelve hundred dollar check from a forgotten life insurance policy. “When I didn’t get it for two or three weeks, then I called and they would say, ‘No, the check wasn’t written, hasn’t been written’ — that’s all they would tell me.”, said Westbrook who, after receiving her check five months later, adds: “I don’t know why they take so long to write a check.”

GA’s Unclaimed Property Law or escheat law (which originates from feudal laws in Great Britain) states that forgotten and abandoned properties such as income tax refunds, bank accounts, uncollected wages, cash dividends on stocks and mineral deposits, uncashed checks, gift certificates, insurance premium overpayments, and others have to be handed over to the state after a specified ‘dormancy period’. This period for GA is between 1 and 5 years for unclaimed financial assets. “Dormant funds are remitted to the State of Georgia. Demand deposit accounts are deemed to be dormant after 12 months and time and savings accounts are deemed to be dormant after a period of five years without activity”, according to an official statement from Georgia’s State Treasurer’s. In a press release from the GA Department of Revenue’s Unclaimed Funds Unit, “The time that must elapse for property to be determined “abandoned” and turned over to the state varies depending on the type of property. For example, unclaimed wages and company liquidation proceeds must be turned over to the state after one year. The vast majority of unclaimed property must be turned over to the state five years after the last contact with the rightful owner. Time frames for other types of property are: safe deposit box contents must be forwarded to the state two years after the box was opened by the holding financial institution; money orders seven years after the issue date; and traveler’s checks 15 years from the issue date.”

The GA Revenue Commissioner has recently attempted to make some improvements in the way that the state department that handles missing cash in GA, like replacing an old automated call center system with operators who can check the status of claims immediately. Tim Shields, a manager with the revenue department, “From the time the claim form comes in the door, if we have everything we need, within 8 to 10 weeks, that person’s going to receive a check,”.

Greg Daugherty, Executive Editor of Consumer Reports, said “When I entered my own information, I didn’t find anything belonging to me, but I did find some money belonging to a great aunt of mine who has since died, and would have left it to me.” Greg is not alone, which is why utilizing the help of an unclaimed property expert is of the extremely important.

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Winning AZ Lottery Tickets Unclaimed
Arizona Lottery officials say two winning tickets still remain unclaimed including one for a $1.2 million jackpot.

Unclaimed Funds For Appliance Rebates Up For Grabs
Kentucky First Lady Jane Beshear announced Thursday that nearly $1.7 million in unclaimed funds remain in the Kentucky Energy Efficient Appliance Rebate Program.

2 winning Arizona Lottery tickets still unclaimed
PHOENIX (AP) - Arizona Lottery officials say two winning tickets still remain unclaimed including one for a $1.2 million jackpot. Officials say the $1.2 million jackpot is for The Pick drawing on July 7. The ticket was sold at an Albertson’s store on Hayden and Indian Bend roads in Scottsdale.

2 winning Arizona Lottery tickets still unclaimed
PHOENIX (AP) Arizona Lottery officials say two winning tickets still remain unclaimed including one for a $1.2 million jackpot. Officials say the $1.2 million jackpot is for The Pick drawing on July 7. The ticket was sold at an Albertson’s store on Hayden and Indian Bend roads in Scottsdale. Also unclaimed is a Pick 5 ticket worth $667,000 from the July 10 drawing. That ticket was bought at a …

Unclaimed cash for social projects
David Cameron is to set out plans to use hundreds of millions of pounds stuck in unclaimed bank accounts to fund social projects in a bid to kick-start his “Big Society” project. Related Stories Four servicemen killed in 24 hours Afghan troops lead major operation Boy, 15, charged over fatal knifing Child prisoner restraints revealed Police start drilling at Tobin home

Celebrities due unclaimed cash in New York
ALBANY, N.Y., July 17 (UPI) — A New York state database of unclaimed accounts says movie star Angelina Jolie and ex-Yankees Manager Joe Torre are among those who have money coming to them. New York - Angelina Jolie - Joe Torre - United States - Business and Economy

Database lists lost pension benefit holders
Theres money waiting that you might have forgotten about, and by money, I mean $197 million owed to 36,000 persons nationwide.

Unclaimed Funds For Appliance Rebates Up For Grabs
Kentucky First Lady Jane Beshear announced Thursday at the GE Appliance Park in Louisville that nearly $1.7 million in unclaimed funds remain in the Kentucky Energy Efficient Appliance Rebate Program. During phase one of the program, residents could “reserve” rebates. Nearly half of Kentuckians who reserved a rebate have not purchased an appliance, making those unclaimed funds now available …

Kentucky Unclaimed Funds and Lost Money

admin — Thu, 15 Jul 2010 05:04:05 +0000

According to the KY State Treasurer, the state is currently holding more than 150 million dollars in unclaimed funds that’s owed to the citizens. The only things standing between 200 thousand citizens and their piece of the pie are knowledge of these abandoned assets, and the ability to track down and reclaim their Kentucky unclaimed money.

The KY State Treasury sounds off about how much cash it has returned in the past 13 years, “In 1994, the General Assembly transferred responsibility for the unclaimed property fund to the Kentucky State Treasury. Since then, about $28 million has been returned to rightful owners.” 28 million dollars sounds like quite a bit, however when you spread that out over 13 years, they’re only giving back a little more than 2 million dollars per year, on average. Far more than that is handed over to the state annually, so the 150 million dollars the state is currently holding will certainly grow larger. Even if KY was to no longer take any more forgotten funds today it would still take them seventy-five years to hand back the 150 million dollars currently being held, based on the current rate of 2 million dollars per year.

It isn’t surprising that most people just dismiss the idea of unclaimed funds as some type of scam, because it’s difficult to accept that there are billions of dollars across the nation that people simply forgot about over many years. Who ever just “forgets” that they have cash somewhere? It appears that quite a number of people. Not surprisingly, the states (including KY) lack the resources to track down every single person who is owed missing money. Government doesn’t do much efficiently, why would giving money back to the people be any different? Citizens of the Bluegrass State should take matters in to their own hands if they ever want to experience the joys of found funds.

While there are many different potential sources of lost assets in KY, the State Treasury’s website lists the following as the most common types: dormant savings and checking accounts, unclaimed wages, dividends, credit balances, and any type of outstanding checks.

A popular misconception is that you should only check for unclaimed funds in your home state. This could not be more wrong, not just because a lot of people have lived in multiple states throughout their life, but additionally because you don’t have to have lived in or even visited a state that might owe you money. Many people are employed by companies that have their headquarters in another state. If these companies owe people money, but are unable to track them down, the cash is supposed to be reported to the state where the company is incorporated.

In addition to checking the records of multiple states, people need to check more than once, because unclaimed funds databases are only periodically updated. If a property hasn’t been dormant long enough to be considered “unclaimed” by the state, the holding company will not have handed it over, which means the state won’t have any record of it. Often times, even after the state has been given a particular account, their database still won’t have a record of it for some time, because someone who works in the unclaimed funds dept. must physically add the listing to the state’s system.

With these issues, and countless more, it’s no wonder that residents have trouble finding their cash. As these mountains of cash grow, so does the confusion about how to find it, so it is more important than ever to seek the help of a professional in this field to aid you in your search.

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Lotto prize goes unclaimed
AN UNCLAIMED National Lottery prize of over a quarter of a million pounds, won by a ticket purchased in the local area, has gone to the Good Causes. (08/07/2010 10:14:58)

Blame game kicks off
It is yet another incident that could have been avoided. And once again, a fierce battle between various government agencies to put blame on each

Unclaimed Cash in Iowa

admin — Tue, 13 Jul 2010 02:05:06 +0000

Iowa is known to the rest of the nation as the state where presidential caucuses take place, but there is more to the Hawkeye State than election year political events. There are millions of dollars in Iowa unclaimed money owed to regular citizens who only need to step forward and take back what technically already belongs to them. IA and states across the country continue to take in millions of dollars in unclaimed funds every year, and the amount taken in easily exceeds the amount given back to the rightful owners. This means that the abandoned asset pile grows bigger each day giving better odds of tracking down a claim to all citizens.

A program called “The Great Iowa Treasure Hunt”, which is handled by the office of State Treasurer Michael L. Fitzgerald, deals with IA’s unclaimed funds. According to The Great Iowa Treasure Hunt’s website, the most common types of missing money include (but are not limited to): dormant bank accounts, utility refunds, uncashed checks, unclaimed wages, safe-deposit boxes, insurance dividends, stock certificates and dividends. Residents of Iowa who have or have had one or more of these types of accounts have a terrific chance of discovering money owed to them, and are urged to search often.

IA is what is known as a “custodial state” in how it handles unclaimed funds. This means that the state never actually takes ownership of missing money, they just hold them indefinitely until the rightful owner, or a rightful heir (if the owner has passed away), locates and claims them. This is nice because a lot of people aren’t even aware of the lost money phenomenon yet and those that are usually still don’t know the correct way to search. Not having a time period under which a claim must be filed can put minds at ease for those just learning about these monies.

While most people have still not heard of unclaimed funds, those that have often dismiss it immediately because they just can not accept that there are literally tens of billions of dollars owed to citizens across the country. The sad reality is, these people allowing their own cynicism to get between them and their cash! Divorce, death, clerical errors, and moving without leaving a forwarding address are some of the more common reasons that money is abandoned, and it is shocking how often tiny things can allow huge amounts of cash to slip through the cracks.

Even though there are a number of of people who do know about unclaimed funds, the vast majority of them don’t know where to begin their search. Some people will tell you that you can simply put your name in to any old site claiming to have a found money database one time and get a yes or no answer. Not true. First of all, you need to be sure the list of records comes from the state you intend to search. Next, you have to be aware that every type of unclaimed funds has its own unique “dormancy period”, or time which must pass before it must be handed over to the state. Because of this, assets are turned over constantly, so it’s necessary to search often, as we can never be certain when the state’s official records will be updated.

The best way to be sure you’re completely educated about how to perform a thorough unclaimed funds search is to learn how the pros do it, and then put those tactics to work for you in your own search.

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Missouri Returns Record Amount of Unclaimed Property
Missouri Treasurer Clint Zweifel says his office returned a record amount of unclaimed property to rightful owners over the past year. The treasurer’s office oversees the state’s unclaimed property division, which holds the unclaimed proceeds from bank accounts, safe deposit boxes and other assets.

The tranquil world of Hiroshima
In the smallest display case in the most unassuming corner of the Hiroshima Peace Memorial Museum, there rests what may be the collection’s most arresting artifact.

Water World
Will the new expanded bottle deposits mean more money flooding into the state? Critics doubt it.

Unclaimed property returns set record
Jefferson City — Missouri Treasurer Clint Zweifel says his office returned a record amount of unclaimed property to rightful owners over the past year.

State returns record amount of unclaimed property
Missouri Treasurer Clint Zweifel said his office returned a record amount of unclaimed property to rightful owners over the past year. The treasurer’s office oversees the state’s unclaimed property division, which holds the unclaimed proceeds from bank accounts, safe deposit boxes and other assets.

Unclaimed cats and dogs need forever homes
Pre-loved, unclaimed cats and dogs are patiently waiting at Black Gold Kennels, hoping that someone will soon adopt them. For almost two years Gabriella Prager has been running the municipal pound for the communities within Leduc County.

Ex-doorman: For employees, fear ruled the Strip
With so many Nevadans terrified of becoming part of the highest unemployment rate in the nation, the rumbling among the rank and file at some Las Vegas resorts is that management by intimidation is running rampant in the Great Recession.

THE FATE OF THE FUND: Millennium Scholarship shortfall to hit students
New and continuing recipients could receive hundreds less Millennium scholars across Nevada may find their pockets a little lighter in the fall semester, following substantial cuts to their scholarship fund. Cuts to the Governor Guinn Millennium Scholarship, mandated during a February special session of the state legislature, are expected to take effect in the upcoming term, and [...]

Before your bank fails, make sure your deposits are insured
Make sure your deposits are protected Two bank failures in a single day last week in the Baltimore region are a stark reminder to make sure your accounts are federally insured.

Lotto prize goes unclaimed
AN UNCLAIMED National Lottery prize of over a quarter of a million pounds, won by a ticket purchased in the local area, has gone to the Good Causes. (08/07/2010 10:14:58)

Unclaimed Funds in Louisiana

admin — Sat, 10 Jul 2010 23:05:05 +0000

Louisiana’s Department of the State Treasury has hundreds of millions in unclaimed property from lost assets that residents have abandoned or forgotten about. These assets include uncashed payroll checks, old bank accounts, stocks and stock dividends, royalties, utility deposits, interest payments, insurance proceeds, retirement benefits, and contents of abandoned safe deposit boxes. By law, businesses and organizations are required to turn these over to the state if the rightful owners don’t claim them after a period of 3 to 5 years for most assets. Unclaimed savings bonds make up a huge chunk of the $330 million total Louisiana unclaimed money. John Kennedy, LA State Treasurer, is attempting to reunite matured forgotten United States savings bonds in addition to other types of Louisiana lost property with approximately one in every six of the state’s residents.

In Baton Rouge alone over 80,000 people, owed nearly 27 million dollars, are listed in the Louisiana unclaimed property records. The State Treasurer recently stated, “The state owes Louisiana residents millions of dollars in unclaimed property, and we want to give this money back.” Louisiana’s Unclaimed Property Law requires the State Treasury Department to print names of businesses and individuals who are due money in newspapers throughout the state annually on top of making other efforts to track down the rightful owners. At an “Awareness Day” that was held at the Lakeside Shopping Center, the Louisiana Department of Treasury gave back $133 thousand in unclaimed property owed to residents of New Orleans. “This was one of the largest unclaimed property events we’ve ever had,” said Treasurer Kennedy. “We estimate that we had around 3,000 people in attendance over a five hour period. The average unclaimed property claim is typically around $200 to $400, but one individual at the mall claimed more than $20,000.”

The majority of people do not know about government forgotten funds which is one of the reasons why the total unclaimed property and cash in the United States currently stands at roughly $35 billion. Hard to believe and somewhat ironic, but people also lose track of their assets in their haste to make more of it - especially in the fast paced lifestyles we lead now. Double jobs, skipping from job to job, changing of address or names (due to marriage), retirement, and death can all cause us to lose track of financial assets belonging to us. Mailed checks and financial notices can be sent back to sender if people do not leave behind forwarding addresses (which can happen in emergencies). Disasters such as hurricanes have in the past displaced a number of families, which is sure to cause the already whopping unclaimed property fund in Louisiana to grow larger. Government efforts to reach out to the owners of unclaimed property are already insufficient in giving back all of the 330 million dollars currently in the hands of the state. Residents are encouraged to take matters in to their own hands and perform a search for lost money in Louisiana as well as other states. Louisiana unclaimed property claims for $250 or more have to be notarized, but it’s possible to do a claim online for less than $249. Web searches can be relatively quick and easy - the key is knowing where to look.

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Water World
Will the new expanded bottle deposits mean more money flooding into the state? Critics doubt it.

Georgia Unclaimed Money and Assets

admin — Thu, 08 Jul 2010 17:04:08 +0000

Compensation for children unclaimed
Children who had a part of the compensation payments made on behalf of their parents who suffered accidental deaths while on official duty between 1982 to 1992, deposited in their name at that time have been requested to come forward and claim their money as they have now reached majority age.