(Part 1 of 2)

As of September, NV's state treasurer, Kate Marshall stated that the state of NV is currently holding more than 200 million dollars in Nevada unclaimed money that is owed to 700 thousand residents. And despite recent efforts, after a lot of criticism in 2006, the NV unclaimed property division continually takes in more cash than it returns each yea.

Marshall notes that NV has increased its unclaimed property returns to 350-700 claims per week. That's nothing to sneeze at, and NV's state treasury department is to be commended, but when you consider the fact that at that rate it would take twenty to forty years before they could ever return all current claims, it's nothing to get very excited about, especially when you take in to account the amount of additional money that would come in over those twenty to forty years!!!

This all boils down to the fact that people cannot rely on the NV to reunite them with their funds. Residents of Nevada need to take action themselves, if they want to be certain they're searching thoroughly and investigating all potential sources of NV unclaimed property. The state has without a doubt stepped up their efforts, but there's a long way to go, and I think we can all agree that we the people are much more efficient than any government agency will ever be.

The most common types of unclaimed funds are as follows in NV: Checking/Savings Accounts, Over-Payments, Vendor Checks, Death Benefits, Stocks, Paid-in-full Life Insurance, Certificates of Deposits, Unpaid Wages, Uncashed Checks, Credit Balances, Money Orders, Dividends, Refunds, Insurance Payments, Commissions, Customer Deposits, Gift Certificates. If you or anyone you know has ever held one of these, you should learn the right way to track down forgotten funds.

Each of the different types of unclaimed money sources mentioned above has its own individual dormancy period. This is the number of years that must pass before the abandoned money can be considered "unclaimed" and passed along to the state treasury. Depending on the type of asset, the dormancy period may be anywhere from 1 to 15 years. This is important to know, because normal web searches won't list a record unless the dormancy period has gone by, and the state treasury has taken hold of your cash.

(to be continued)

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Unclaimed Money: Learn How to Find Unclaimed Cash for Your School
Unclaimed Money: Learn How to Find Unclaimed Cash for Your School

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This post comes from Brandon Ballenger at partner site

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