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FYI Unclaimed property.

Discussion in 'useless chatter' started by Casper, Feb 22, 2013.

  1. Is your dad wealthy or something? My friend's father said it's not worth collecting $800 off that site. But then he owns four hotels in San Francisco.
     
  2. not really. But i think ya'll are massively underestimating the amount of effort it will take to get money back.

    If it was "fill out a form, get money", more people would do it. But i imagine theres huge legal red tape to get through thats really annoying.
     
  3. Imagine away. The whole process took me about an hour. Most of which was going through old files looking for a death certificate, and about ten minutes of paperwork and a phone call.
     
  4. Do you have your money? I will agree with you when you have a check.

    Also, with all my dads stuff, theres the complication of there being 6 prospective heirs.

    Also, why would a death certificate net you the money, wouldnt you need a will that specifically says that money was intended for you?
     
  5. I think most people don't collect their money because they never find out about it.

    How many of you guys knew you had unclaimed property before I posted this? Two?
     
  6. My part is over. The budget office is backlogged and filing September claims right now. The processing time is 6 months. Now I wait.
     
  7. Okay, so here's how our state does it:

    The money has to be collected by a legitimate heir, or beneficiary in the case of a trust. One of the documents I signed basically states that I am responsible for distributing the money appropriately. So if there were any other beneficiaries of my grandfather's trust, they could sue me for their share of the money. The fucked up thing is that the state makes no effort to tell them the money is claimed. So those other parties will never know unless the collecting beneficiary tells them so.
     
  8. Along with the death certificate, I had to give them a copy of the trust and some other papers. They were all in the same file. They mailed everything back to me in two days. Your state might be different.
     
  9. okey doke.
     
  10. I would think that it would also depend on the source of the money
     
  11. Maybe. I have no experience with this other than my own. In my case, the only painful part is the waiting, I guess.
     
  12. #72 Josh, Feb 25, 2013
    Last edited: Feb 25, 2013
    In my case, the Florida Unclaimed Property is named as the trust fund my grandfather set up when I was 2. Not sure if the unclaimed property is in my SSN or the trust fund's EIN. If it is in my SSN, then I can collect. If not, then my dad has to handle that. Florida unclaimed property only required a copy of a driver's license and copy of a utility bill. Nothing notarized or whatever. So that one might pay out.
    I would tend to agree with you. The other unclaimed property for me was in NJ. And they don't specify anything (who the property is, how much, any details). Just gives you a form to fill out and a claim number. So I guess I'll find out in a few weeks/months what the Unclaimed Property is, what SSN or EIN it is, and what I need to do to get it. If it requires a copy of my birth certificate, as you said probably not worth it since getting that costs a bunch of money ($65.00 for raised seal birth certificate from NJ). And I have a feeling they'd want multiple copies for each unclaimed property claim.
     
  13. I think I lost a nickel in my navel if anyone wants to fish it out.
     
  14. Speaking of fish, that's probably what the nickel smells like now.
     
  15. I think you'd be lucky if it smelled like fish...
     
  16. I was imagining 4 days old rotting on the dock kind of fish smell.
     
  17. That would actually dry out really quickly, so wouldn't smell too bad.
     
  18. Depends on how big the fish is.
     
  19. Depends on how big the fish is.
     
  20. Well you didn't specify