I'm not often envious of living South of the border....but compared to our friends in the US, Canadians are in dire need of Legislation relating to unclaimed Property and for that matter a tool like Legacy Tracker to reduce the risk of unclaimed property in the first place...
The state of Illinois has a unique take on their search for owners of the $1.5B in cash and contents from safety deposit boxes that have been abandoned for at least five years. The State Treasurer and staff travel periodically from town to town. ates
The state of Illinois has a unique take on their search for owners of the $1.5B in cash and contents from safety deposit boxes that have been abandoned for at least five years. The State Treasurer and staff travel periodically from town to town. ates
State Treasurer Dan Rutherford notes how successful the events can be and the overall success of their efforts to help residents of Illinois track down lost property:
"Many people are oblivious to how many
assets the state has that belong to them. We find about 20
percent of the people that actually come to these events will find that they
themselves or their family members have got property that they weren’t aware
of,”
The State's proactive looking has been successful...for the first time ever in the State's history, they were able to
return $101 million back to the rightful owners. to them,”
Examples of
unclaimed property include money from inactive savings and checking accounts,
unpaid wages or commissions, and stocks, bonds and mutual funds.
March 15, 2012
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