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Unclaimed property
Old 08-09-2008, 11:12 AM   #1
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Unclaimed property

Unclaimed property is discussed in these threads and probably some others, though I didn't revive any for this response since the ER-forum software said they were so old that a new thread was recommended.

Unclaimed Funds

State's Unclaimed property

Today, it was announced on TV that the unclaimed property beancounters would be down from the Louisiana state capital in Baton Rouge, and setting up a booth in a local mall for the day. After having trouble with the state's unclaimed property website when the above threads were new, the potential income remained in the back of my mind. So, I went back and the website worked, and told me that I had 17 unclaimed properties from a long time ago. The website did not specify the amount except on one of them.

I would have just sent them a letter, but there were complications due to inconsistencies in both name and address, and each one had to be notarized. So, I just went down to the mall where all of these issues were handled quickly and easily by intelligent people for free.

In two weeks, I will be getting a check for over $3000!!!!

Holy cow!! Thanks to the ER forum. It just goes to show you - - be sure to read the forum every day. It pays.
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Old 08-09-2008, 04:37 PM   #2
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Well, you ARE a lucky girl! What types of property are they?
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Old 08-09-2008, 06:57 PM   #3
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Just this week I got a check from my state's Treasury Department after I read about unclaimed property in that earlier thread mentioned by WTR. I submitted the notarized claim form several MONTHS ago and was beginning to think that nothing was ever going to happen, but when I checked the state's website a few weeks back, I saw that my name was missing from the current list. I called the Treasury and learned that a "check was in the mail"...but they wouldn't reveal the amount. Imagine my surprise at the $675 amount -- the remains of a long ago closed out mutual fund, which I had thought was zeroed out!

Like Want to Retire said, thanks to the forum for the connection!
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Old 08-09-2008, 07:25 PM   #4
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W2R is buying the next pizza party
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Old 08-09-2008, 07:33 PM   #5
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Well, you ARE a lucky girl! What types of property are they?
It's possible or perhaps even probable that the bulk of it is from the remains of a failed mutual fund, similar to Achiever51's property. The type of property isn't specified. Some could be dividends or capital gains, too. I had some (paper) mutual fund certificates that my mother gave me, and kept them in the back of my socks drawer for a quarter century until I sold them a year or two ago except for those that were worthless due to the company failing. The 17 properties are from these mutual fund companies and were sent to an address in Baton Rouge where I lived from 1996-1999.

That was during the time surrounding my divorce, and with the emotional turmoil and complete, utter chaos I probably didn't notice not getting the dividends (plus, I moved four times in rapid succession in 1999-2000). My name was always mis-spelled on the certificates too, so the state could not find me in their databases.

I don't yet know the exact amount, as they are to mail me a check within two weeks. The supervisor did a quick estimate and told me it would definitely be over $3K, but didn't have the time or facilities to add up the 17 amounts under the circumstances. The copy machine was not available so I could not get a copy of the amounts and which were from whom. I presume that they will send an inventory with the check.

Should make tax time "interesting" next year...
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Old 08-09-2008, 07:34 PM   #6
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Veggie pizza and diet soda for everyone!!
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Old 08-09-2008, 07:38 PM   #7
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Veggie pizza and diet soda for everyone!!

Oh that sounds good right now!
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Old 08-09-2008, 08:14 PM   #8
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I just checked and it said something over $100. We'll see.
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Old 08-09-2008, 08:22 PM   #9
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I just checked and it said something over $100. We'll see.
Oh good!!! Who knows? Maybe it is a lot more than that.
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Old 08-10-2008, 06:48 AM   #10
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$2,337,910.22 is something over $100 and more than $3,000 too. Maybe you'll be surprised.
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Old 08-11-2008, 05:53 AM   #11
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I didn't expect anything but a couple of years ago found I had around $150 owed to me. Part of it was from a closed credit card account that apparently somebody thought I double-paid upon closing, and part was a work "atta boy" award check I apparently didn't cash.
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Old 08-11-2008, 07:07 AM   #12
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I got about $1,200. Not a fortune, but worth the trouble to send in the paperwork.
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Old 08-11-2008, 06:27 PM   #13
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I found unclaimed property for my Mom's estate tied to when her life insurance company demutualized. Was keyed to them when her life insurance was claimed.
For those of you acting as an estate excutor, I particularly recommend for the deceased. My Mom's stuff was for an address she was only at 6 months. I have also found property for her deceased husband but have no idea yet how much.
Prudential and Met Life are at least two of the insurers to look at. If you have ever held whole life policies with them you should have received shares from the company when they demutualized. If not check the unclaimed property for your prior states of residence. Most on are online and can be located with a google
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Old 08-11-2008, 06:34 PM   #14
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check the unclaimed property for your prior states of residence. Most on are online and can be located with a google
nwsteve
Or here.
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Old 08-11-2008, 06:45 PM   #15
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Alas, all I had was 'unclaimed' stock. Worth all of maybe 7 dollars, less than the sales cost for a paper certificate.

Funny thing is, based on the information they gave me, I know exactly what it is. The stock certificate is hanging in my office, as a reminder to me of just why taking compensation in the form of an employer's stock is risky.
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Old 08-11-2008, 08:14 PM   #16
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I found unclaimed property from my father's estate - proceeds from a life insurance policy that I couldn't collect originally from the insurance co because I didnt have the policy. Finally it went to the state where I could send in enough paperwork & split $6k with DS.
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Old 08-23-2008, 11:10 PM   #17
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I received the unclaimed property check from the State of Louisiana today, in the amount of $4460.50!

That was sure more than I expected. I have been daydreaming about what I could do with it, though it will probably end up in my nestegg.

The letter accompanying it said nothing about taxes. I presume I will probably get some indication of what if anything is expected from me after the first of the year. Even if it is taxed as ordinary income, I would still have over $3K left.
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Old 02-07-2009, 11:32 AM   #18
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Because of this thread I initiated a claim of my own and today I received a check for $109.

It was required that death certificates for mom and dad be provided for the claim to be processed.

Big, bold, green print on the Certificate Of Death declares...

"WARNING: It is illegal to duplicate this copy by Photostat or photograph."

The Treasury Department kindly returned these certificates to me along with a letter stating...

"A copy will be maintained for our records".

Another case of the law applies to you but not to me.
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Old 02-07-2009, 12:41 PM   #19
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At least they returned them. Those death certificates cost $16 each, if my recollection is correct! Glad you got $109. Nothing like unexpected money to brighten one's day.
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Old 02-07-2009, 06:34 PM   #20
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I just searched for myself in my state of prior residence and got a hit! From what, I have no idea. They say it's over $50, so I'll take the form to our CPA to have it notarized on Tuesday and see what I get.

Who woulda thunk it?

If they ask me for a list of prior residences I'm toast, though. I moved 18 times in six years during my college/grad school experiences. Plus I had a PO Box in there somewhere. No way can I remember all those addresses.
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