(Part 2 of 2)
One of the main reasons for the inability of government give back forgotten money to the people it belongs to, according to the government, is the fact that they can not be located. Problem is, who would think that people like ZsaZsa Gabor, Angelina Jolie, Victoria Beckham, Gerri Halliwell, Brad Pitt, Keanu Reeves, Jennifer Lopez, Adam Sandler and Marlon Brando could be difficult to track down? Those names and the names of several other famous people are just some of the names in the Cali missing money database but they have never heard from the employees in the California Unclaimed Money Division. They are all owed checks for forgotten funds by Cali amounting from hundreds to the thousands in Ms. Jolie’s case. This just shows Cali state employees’ interest in holding this money in the general fund for them to balance the budget deficits for as long as they can. In fact, there was recently a ruling by a federal judge on CA abandoned assets, saying that the state wasn’t making enough of an effort to locate the rightful owners and for a while halted the state’s s ability to take and hold it until a better policy of returning it to the actual owners has been adopted.
The total dollar amount for these funds in California averages $5 billion annually – just imagine the amount of interest this generates for the state! Bill Palmer, an attorney in Sacramento who has fought in a number of cases involving California unclaimed money, has said that the state’s program was created to be a lost and found for residents of California. Instead, it was turned into a profit making ‘business’ in recent years.
The hold on the taking of property by California has recently been removed and the new CA State Controller, John Chiang, is making greater efforts in the form of sweeping changes in improving how his office deals with California unclaimed money. There’s still a dire need though for residents of California and the other 49 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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State of Iowa looks for owners of unclaimed cash (KTIV Sioux City)
SIOUX CITY, Iowa (KTIV) – Millions of dollars are waiting to be claimed through the Iowa State Treasurer’s office. State Treasurer Michael Fitzgerald says people forget about the money or are simply un
State of Iowa looks for owners of unclaimed cash – KTIV
SIOUX CITY, Iowa (KTIV) – Millions of dollars are waiting to be claimed through the Iowa State Treasurer’s office. State Treasurer Michael Fitzgerald says people forget about the money or are simply un aware they’ve inherrited it. “A good portion is …
Md. ready to give back $38 million in unclaimed money (WTOP Radio Washington, DC)
The Maryland Comptroller’s Office has $38 million of unclaimed funds belonging to 54,000 people in the state, and some of it could be yours.
Unclaimed Property? We’re Here to Help You Find It! (WIBW Topeka)
The state could be holding onto your money and Tuesday we’re helping you find it!
