‘We helped return over $1.2m,’ reveals official who found widow’s lost money – after discovering it, she took action | 6M7P5L2 | 2024-04-28 19:08:01
'We helped return over $1.2m,' reveals official who found widow's lost money – after discovering it, she took action | 6M7P5L2 | 2024-04-28 19:08:01
A TENNESSEE widow has become $1.2 million richer after finding a large lump sum of unclaimed cash in her name.
It was one of the largest unclaimed cash payments in Tennessee history.
There are approximately 33 million people in the U.S. who have unclaimed property and aren't aware of it.
"Unclaimed property is when businesses organizations have money that belongs to somebody that they can't get it back." Shelli King, director of communications for the Tennessee Department of Treasury, told local Fox affiliate WZTV.
"They turn it over to the state, and the division of the Tennessee Department of Treasury works to return it."
Busessineses typically hand it over to the state after it goes unclaimed for at least three years.
The money usually stems from inheritances people are unaware of or old paychecks that weren't collected after leaving a job.
It can also come from refunds or balances leftover from closed bank accounts.
Most claims are $100 to $200 on average, however, there are some instances of large payouts being collected.
"We've had two that were over a million dollars, and in both instances they were heir claims." King shared.
"One was for a widow whose husband took out some stock options she didn't know about," she said.
"They were dormant, turned over to the state, and we helped to return $1.2 billion."
<!-- End of Brightcove Player --> One in six people in Tennessee currently have unclaimed money, per WZTV.
There is over a billion dollars of unclaimed cash waiting for people to come forward in the Volunteer State.
In 2023 alone, over $150,000,000 was added to the state's treasury account.
<!--googleoff: all--> <blockquote class="article__quote"> </blockquote> <!--googleon: all--> The unclaimed property administrator in Washington, Patti Wilson, said there's a one in seven chance someone you know has unclaimed property out there, per MLT News.
</div> </div> "Much better odds than winning the lottery," said Wilson.
"While many people say, 'I know where all my money is,'" she added.
"You would be surprised how many times they search their name and find they have money owed to them.
"Searching your name is free and only takes a few minute."
It's easy to find out if you have unclaimed money.
Tennessee residents can search for unclaimed cash in their name at Claimittn.gov.
If you live in another state you can search for unclaimed cash at missingmoney.com.
There is no expiration date on filing a claim to receive a payout.
More >> https://ift.tt/bYnZwqW Source: MAG NEWS
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