December 8, 2008
Forgotten Funds in New Hampshire - Part 1 of 2
(Part 1 of 2)
New Hampshire might be nicknamed The Granite State because of its number one, and incredibly valuable natural resource, but there is another hidden treasure in this New England state that is less known. New Hampshire unclaimed money, many millions in fact, belonging to residents of the state is being held by the NH State Treasurer, waiting for the rightful owners who only need to come forward and claim what is technically already theirs'.
NH citizens are familiar with freezing weather and their beautiful White Mountains, but they can swoosh down the mountains of cold hard cash if they just learn about how to locate and claim abandoned assets already owed to them. The first obstacle is just hearing about the existence of the phenomenon of unclaimed money. Sadly, most people are still not aware of the fact that there are tens of billions of dollars in state treasurer's departments across the nation, just waiting to be found. Beyond just being aware of these monies, people have to know where and how to search for them, or they could waste a lot of time and energy without getting anything in return.
The reasons unclaimed funds are often hard to locate are numerous, but among the most common are the lack of knowledge of the searcher on which sites to use and how often they should search.
There are a number of different kinds of property that can become abandoned and classified "unclaimed", but the state treasury's site names the following as some of the more common: Stocks, Certificates of Deposit, Mutual Funds, Bonds, Refunds, Gift Certificates, Payroll, Wages, Commissions, Salary, Death Benefits, Uncashed Checks, Insurance Payments, Dividends, Paid-up Life Insurance Policies, Money Orders, Demutualization Proceeds, Deposits. Each type of account can only be classified as "unclaimed" (and passed along to the state) after it has seen no activity for a specified period of time, which is unique among each type. These dormancy periods are typically between 1 and 5 years in NH, depending on the type of property.
(to be continued)
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