If you haven't heard of this, every state treasurer has unclaimed property they keep for a number of years, while trying to get you to claim it. They post notices in a number of ways, local papers, etc. In my military career I have moved a number of times and was stationed in Illinois several times. A friend told me he had seen my name on the web site for found money. I checked and sure enough I was on their list 3 times. I followed up and received an eleven dollar state tax return from 23 years ago, one half of a joint savings account I had with my ex wife, and a number of shares of stock in a life insurance company that had gone public and could not pay me a dividend twenty some years ago. Not a fortune, but certainly better than a pointy stick in the eye. Check out your states web sites, and you may be a winner.
Cash Dash
- Thread starter rfawkes
- Start date
- Views: 1939
Junkman
Super Member
I have a small amount of money waiting for me in MA, but after checking to see how many hoops I needed to jump through, it wasn't worth the effort for so little. One of the requirements was send your original Social Security card along with the claim and they will return it. Like I trust the state government that has my money and claims that they can't find me, when I have filed a state tax return for the past 30+ years with them to return my card to me?????? /forums/images/graemlins/mad.gif /forums/images/graemlins/frown.gif
riptides
Super Member
It is NOT in the States best interests to find you. The FED however forces them to take certain actions to FIND you.
Some states are actually getting better at the claims process.
-Mike Z. /forums/images/graemlins/grin.gif
Some states are actually getting better at the claims process.
-Mike Z. /forums/images/graemlins/grin.gif
TheKid
Gold Member
This just reminded me to check with the wife to see if she sent the forms in for the money the state is holding for me. Two things under $50 and two over $50.
If you lived in Missouri you can check <font color="blue"> here </font> to see if they owe you something. The process is pretty simple. Print out the form from the website and send it and a coy of your drivers license in. For things over $50 I had to have the form notarized.
If you lived in Missouri you can check <font color="blue"> here </font> to see if they owe you something. The process is pretty simple. Print out the form from the website and send it and a coy of your drivers license in. For things over $50 I had to have the form notarized.
Richard
Elite Member
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I presume most of you know this, but my understanding is the term is "Escheated" when someone turns money over to the state.
Something ironic about that word.
/forums/images/graemlins/tongue.gif
Something ironic about that word.
/forums/images/graemlins/tongue.gif
Junkman
Super Member
Tranlsated to "estate cheated".... /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif /forums/images/graemlins/grin.gif
slowrev
Elite Member
these sites have also been useful to find deadbeat dads and such /forums/images/graemlins/smile.gif
Ben
Ben
Phils
Platinum Member
This TBN forum can seem kinda spooky.
Within 15 minutes of my reading this thread and seeing the word "escheated" for the first time ever, I get a call from my broker referring to some stocks that I sent to him for transfer last fall that are now missing. They have been escheated to my state. I called the state, yes they have them and they are sending the claim form. I was told it'll take about TWO YEARS to get them back.
The broker's assistant that instructed me on how and where to send the stock certificates has been off for months with an injury. I guess at this time I have no recourse but to fill out forms and wait.
But it's still oddly coincidental that I first read about "escheat" here and within the hour I'm involved in it.
I guess I'll have to be more careful about which posts I read here, and avoid the ones that hint at tragedy.
Phil
Within 15 minutes of my reading this thread and seeing the word "escheated" for the first time ever, I get a call from my broker referring to some stocks that I sent to him for transfer last fall that are now missing. They have been escheated to my state. I called the state, yes they have them and they are sending the claim form. I was told it'll take about TWO YEARS to get them back.
The broker's assistant that instructed me on how and where to send the stock certificates has been off for months with an injury. I guess at this time I have no recourse but to fill out forms and wait.
But it's still oddly coincidental that I first read about "escheat" here and within the hour I'm involved in it.
I guess I'll have to be more careful about which posts I read here, and avoid the ones that hint at tragedy.
Phil
SnowRidge
Elite Member
<font color="blue"> I presume most of you know this, but my understanding is the term is "Escheated" when someone turns money over to the state. </font>
Escheat supposedly means to revert to the Lord of the Manor, or to the government when there is no legal heir. The states seem to have decided that they also get it if a bank account is dormant for some specified period of time, or if the true owner of funds can't be located. No death needed. /forums/images/graemlins/mad.gif
Fortunately, Uncle seems to have told them they can no longer keep it for themselves, but are now custodians until the rightful owner(s) can be located.
If you ever have to deal with an escheated financial account, you will find all manner of people trying to contact the legal owner with offers to get the money for you -- for a small fee, of course. If you receive one of these letters out of the blue, it's time to start checking the various likely states yourself. No sense giving someone else a cut. /forums/images/graemlins/grin.gif
Escheat supposedly means to revert to the Lord of the Manor, or to the government when there is no legal heir. The states seem to have decided that they also get it if a bank account is dormant for some specified period of time, or if the true owner of funds can't be located. No death needed. /forums/images/graemlins/mad.gif
Fortunately, Uncle seems to have told them they can no longer keep it for themselves, but are now custodians until the rightful owner(s) can be located.
If you ever have to deal with an escheated financial account, you will find all manner of people trying to contact the legal owner with offers to get the money for you -- for a small fee, of course. If you receive one of these letters out of the blue, it's time to start checking the various likely states yourself. No sense giving someone else a cut. /forums/images/graemlins/grin.gif
SnowRidge
Elite Member
It sounds like the stocks went missing for less than a year. In California, that shouldn't have triggered escheatment, if they should have even been escheated at all. I would want a full accounting of what happened, why, who, where, and how. Something doesn't sound right.
