(Part 2 of 2)

One of the main reasons for the inability of government to return forgotten cash to the people it belongs to, according to the government, is the fact that they can not be located. Problem is, would would ever think 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 locate? Their names and the names of several other celebrities are just some of the names in the CA missing money list but they have not heard from the officials in the California Unclaimed Property Division. They are all owed checks for unclaimed money by CA ranging in amount from hundreds to the thousands as in the case of Angelina Jolie. This just shows CA state officials’ interest in holding this money in the general fund for use in balancing the budget deficits for as long as they can. In fact, there was a recent ruling by a federal judge on CA abandoned cash, stating that the state wasn’t trying hard enough to return it to its rightful owners and has temporarily halted the ability of the state to take and hold it until a new policy of reuniting it with the actual owners has been adopted.

The total amount of unclaimed money in California averages $5 billion annually – imagine how much interest that earns for the state! Bill Palmer, an attorney in Sacramento who has represented a number of cases involving California unclaimed money, has said that the state’s department was created to be a lost and found for residents of California. Sadly, it was turned into a profit generating ‘business’ in the past few years.

The hold on the taking of property by California has recently been lifted and the new CA State Controller, John Chiang, is making extra efforts in the form of widespread reforms in improving how his office deals with California unclaimed money. There’s still a dire need though for Californians and residents of all other states across the U.S. to learn about the presence of these monies and on how to perform a thorough search for them.

–

APS May Be Owed Unclaimed Money
After battling a major budget crisis, it turns out the Albuquerque Public Schools district may be entitled to some unclaimed cash.