January 15, 2012
Find Unclaimed Assets in WA – Part 2 of 2
(Part 2 of 2)
WA was actually the first state to have a streamlined system for claiming lost property and money. In fact, the WA State Dept. of Revenue recently won the Award for Outstanding Management and Organizational Initiative for its 'Unclaimed Property E-Claim System'. The total waiting to be reunited with their owners is still in excess of half a billion dollars however, despite the unclaimed money program being implemented to reach out to more owners of WA unclaimed money and that makes claiming easier for them.
The issue may lie in a number of factors – the fast paced lifestyle we live these days, the idea people have that mountains of paperwork are required when dealing with the government, and plain disbelief. The more people jump from job to job, change addresses, jump from spouse to spouse (changing last names), the more likely that they are going to lose track of some of their financial assets like tax refunds from the IRS or inheritances from a relative that had passed away. Even people who are aware of the potential that they might have unclaimed money in WA and other states often don't bother performing a search at all assuming it is not worth the hassle.
The Unclaimed Funds Division takes in more than 55 million dollars in lost or abandoned assets annually in WA State and that amount adds up with each passing year. Educate yourself on all the different ways to search, when you need to search, and what sites to search and get started tracking down money you could have coming ASAP! Who knows? For once, the government might owe you money this time instead of you owing the government.
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