Louisiana's State Treasury branch has hundreds of millions worth of unclaimed property from lost assets that residents have abandoned or forgotten about. These assets contain uncashed payroll checks, old bank accounts, stocks and stock dividends, royalties, utility deposits, interest payments, guarnatee proceeds, retirement benefits, and contents of abandoned safe deposit boxes.
By law, businesses and organizations are required to turn these over to the state if their owners don't claim them after a period of 3-5 years for most assets. Unclaimed savings bonds make up a huge chunk of the 0 million total Louisiana unclaimed money. State Treasurer John Kennedy is trying to reunite matured forgotten U.S. Savings bonds as well as other types of Louisiana lost property with approximately one in every six of the state's residents.
Unclaimed Property
In Baton Rouge alone over 80,000 people, due nearly million, are listed in the Louisiana unclaimed property records. According to the State Treasurer, "The state owes Louisiana residents millions of dollars in unclaimed property, and we want to give this money back." Louisiana's Unclaimed property Law requires the State Treasury branch to release names of individuals and businesses who are owed money in newspapers throughout the state every year as well as make other efforts to reach out to the rightful owners.
At an "Awareness Day" held at the Lakeside Shopping center recently, the Louisiana branch of Treasury gave-back 3,000 unclaimed money owed to residents of New Orleans. "This was one of the largest unclaimed property events we've ever had," said Treasurer Kennedy. "We estimation that we had colse to 3,000 citizen in attendance over a five hour period. The median unclaimed property claim is typically colse to 0 to 0, but one private at the mall claimed more than ,000."
A lot of citizen don't know about government abandoned money and that's one of the reasons why the total unclaimed property money in the U.S now totals approximately billion. Hard to believe and a bit ironic, but citizen also lose track of their money in their haste to earn more of it- especially in the fast-paced lifestyles we lead now. Double-jobs, skipping from job to job, changing of address or names (due to marriage), retirement, and death can all cause us to lose track of financial assets belonging to us. Mailed checks and financial notices can get 'sent back to sender' if citizen forget to leave behind forwarding addresses (as in the case of emergencies). Disasters after hurricanes in the past have displaced multitudes of families, which is sure to cause the already whopping unclaimed property fund in Louisiana to balloon.
Government efforts to reach out to the owners of unclaimed money and property are already insufficient in returning all of the 0 million presently in the hands of the state. Residents are encouraged to take the initiative and do a hunt for lost money in Louisiana as well as other states. La. Unclaimed property claims for 0 and above must be notarized, but it's potential to do an on-line claim for 9 an under. On-line searches can be relatively simple and quick- the key is knowing where to look.
Louisiana Unclaimed Money Totals 0 Million
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