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Will Unclaimed Money Trust Funds Disappear like Social Security?

The government requires unclaimed money certificates be sent to the State and 40%
be turned over to state. Now they are remain for the retailer. George Delta,
passing bills to spend this money that from the counsel to the Incentive
may belong to you! Are they legalizing Marketing Association, stated "States
theftUnclaimed money accounts in the require businesses to give them some type
United States total over $25 BILLION of periodic report of the amount of
dollars. The money ends up in these unclaimed property they are holding.
account do to the governments "escheat This allows the state to monitor this
laws" requiring institutions such as potential source of income."With the
banks to turn over funds from dormant states experiencing such great budget
bank accounts, uncashed checks, unused benefits from the unclaimed property
gift cards, etc. States are now passing funds, they have little incentive to
bills to spend the money from these locate the rightful owners of this
Unclaimed Property Trust Funds. These money.In the state of California the lost
funds are owed to millions of Americans funds have reached over $5 billion and it
and instead of making any sizable effort is estimated 1 in 5 have unclaimed money.
to contact the rightful owners, the state How hard is it to find Ryan Seacrest,
is now proposing to spend this money to Reese Witherspoon, Julia Roberts, Kate
handle there own budget problems.States Hudson and Benicio Del Toro? They are
are passing bills allowing them to use all owed money from California's state
the missing money funds. One such case database. Microsoft is owed over
is a Bill was passed last year in $25,000!!! California's Unclaimed
Arkansas. The Bill was created impart to Property Trust Funds is likely to be a
allow the State to transfer up to target piggy bank for the CA Governor to
$15,000,000 of funds from the "Unclaimed use to assist with the states budget
Property Proceeds Trust Fund" to the issues.Nicole Anderson offers more
States General Improvement Fund. The information about unclaimed money at Cash
subtitle of this Bill states the funds Unclaimed. Would you like to receive
are to be used "...to provide additional your lost funds check without searching
funds for the State budget".Some states 100+ individual databases? A simple
such as Indiana and Iowa require that 60% unclaimed property search could mean a
of the money from unused expired gift check in your mailbox.




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