January 29, 2012
Locate WA Unclaimed Money – Part 2 of 2
(Part 2 of 2)
WA was the first state to have a streamlined system for claiming lost money and property. As a matter of fact, the WA State Department 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 $500 million however, despite the unclaimed property program being implemented to seek out more owners of WA unclaimed property and that makes claiming these funds easier for them.
The problem may lie in more than one factor – the fast paced lifestyle we live these days, the notion people have that mountains of paperwork are involved when dealing with the government, and plain disbelief. The more people change addresses, jump from spouse to spouse (changing last names), jump from job to job, the more likely that they are going to lose track of some of their financial assets like inheritances from a relative that had passed away or tax refunds from the IRS. Even those that are aware of the potential that they might have unclaimed property in WA and other states might not bother performing a search at all assuming it isn't worth the effort.
The Unclaimed Money Division collects over 55 million dollars in lost or abandoned assets each year in WA State and that amount snowballs with every year that goes by. Study up on all the different ways to search, when you need to search, and what sites to search and get started locating money you might have coming today! Who knows? For a change, the government could owe you money this time instead of the other way around.
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