(Part 2 of 2)

One of the primary reasons for the government’s inability to return forgotten cash to the people it belongs to, according to the government, is that they can’t be located. Problem is, would would ever think that people like ZsaZsa Gabor, Angelina Jolie, Victoria Beckham, Gerri Halliwell, Brad Pitt, Keanu Reeves, Jennifer Lopez, Adam Sandler and Marlon Brando would be difficult to locate? Those names and the names of several other celebrities are some of the names in the Cali missing money database and yet they have not heard from the officials in the California Unclaimed Money Division. They’re all owed checks for forgotten funds by Cali amounting from hundreds to the thousands as in the case of Angelina Jolie. This just proves Cali state officials’ interest in holding this cash in the general fund for them to balance the budget deficit for as long as they can. In fact, there was recently a ruling by a judge on CA abandoned cash, stating that the state was not trying hard enough to return it to its rightful owners and for a while halted the ability of the state to take and hold it until a proper method of reuniting it with the rightful owners was adopted.

The total dollar amount for these funds in California averages $5 billion annually – just imagine the amount of interest that generates for the state! Bill Palmer, an attorney in Sacramento who has battled in many cases involving CA unclaimed money, has said that the state’s program was intended to be a lost and found for California residents. Instead, it has been turned into a profit earning ‘business’ in recent years.

The ban on the seizure of property by CA has recently been lifted and the new CA State Controller, John Chiang, is making extra efforts in the form of sweeping reforms in improving how his office handles CA unclaimed money. There’s still a great need though for Californians and residents of all other states across the U.S. to be informed about the presence of these properties and on how to do a thorough search for them and take back what belongs to them.

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