There is a lot of gossip which is related to government unclaimed money. Some of these are said to be rumors, while the rest and from this we mean a majority of the rumors, are indeed correct. It is interesting to note that a well known myth which recently resurfaced as a hardcore reality was the fact that nine out of every ten household has a share in the untapped government unclaimed money. You just need to be aware of your rights and tap the right channels to unveil the truth.
If we go by the statistics then the government has over forty billion dollars lying as government unclaimed money in the state treasury. The money is supposedly yours. It’s just that you forgot all about it and unknowingly forfeited it to the government account.
Government unclaimed money can be in the form of hard assets like property, forgotten bank accounts, shares or financial bonds. How does your money become government unclaimed money? This is a good question and the answer to it is fairly simple.
It all happens when you relocate to another state on the pretext of getting a new job or marriage, die in an accident or become disabled. In such a scenario, more often than not, you tend to forget about your own funds and fail to keep track of your financial institutions.
When this happens, your money is immediately taken up by your respective bank or financial institution where it functions as a potential working capital for a period of three to five years. After this, it is conveniently transferred in the form of government unclaimed money to the state treasury.
The funds lie with the government till the time its rightful owners do not come forth to stake a claim. The claims can either be done by hiring a professional or by using the services of the World Wide Web. Either way, you need to hurry for the government unclaimed money is waiting for your arrival.
The states don’t bother to locate the rightful owners on the pretext of minimal manpower but the truth is far from this, for the government unclaimed money actually help the states in meeting their financial deficits. Article keywords: