January 13, 2012
Search For MS Forgotten Funds – Part 1 of 2
(Part 1 of 2)
The State of Mississippi is home to a few of my favorite things in life – sweet potatoes, rootbeer (invented in Biloxi in 1898), and catfish. Mississippi's Treasury Dept. has also become home to something that's on the top of my list and I suspect yours as well – money. Mississippi unclaimed money, to be precise. "Nearly 1 in 5 Mississippians have money representing over $38 million that needs to be claimed," stated Mississippi State Treasurer Tate Reeves in a recent press release. This is clearly good news for the numerous families that suffered hurricane losses in recent years, and are now trying to deal with major setbacks in their budgets.
When people die or move to a new home, often they forget to leave a will or a forwarding address and this causes lost inheritances and mail. Financial notices, tax refund checks and the like get sent back to sender (banks, insurance companies, the IRS, etc.). According to Treasurer Reeves, "They are required by state law to turn them over to the Treasurer's Office after a dormancy period. After that dormancy period is over, they turn it over to the state. We put a book out every three years and send it out through various media,".
According to a recent story on NBC's Dateline, a handful of lucky Mississippi residents were recently reunited with their forgotten funds and it was actually a pleasant surprise for most of them. A Biloxi, Mississippi resident found out he had $30,000 from an investment his father had forgotten to tell him about before he passed away. A couple who had lost everything to the recent hurricane got $250,000 from Mississippi unclaimed property. Another woman who was struggling to rebuild homes for herself and her mother got $100 thousand. Gordon White, was in the process of building his dream home when Katrina struck and he had to live in a trailer, but then got $200,000 from bank stock shares his father had never told him about. One of the biggest claims given out so far was to a Vietnam veteran who was forced to retire from his job as a company supervisor due to post-traumatic stress. Turns out he was owed nearly a million dollars from old company stocks he had forgotten about when he retired from said company.
(to be continued)
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$77m Powerball ‘Lottery’ Ticket Still
In Georgia, all
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