New York unclaimed assets amounts to billions and continues to increase daily. There is a great deal of money out there from unclaimed accounts and more. Due to this increased amount of unclaimed assets, New York City is considered to be one of the states with a large treasury.
The truth is, around $10billion has been remitted to the state’s general fund and accrued interest goes for the benefit of the state. A bills is now being pushed to separate the funds from the general account and open a new account for the benefit of the owners alone.
A great deal of this lost financial asset comes from various sources. New York unclaimed assets comes from 25million inactive accounts that was left in the care of the state. For this reason alone, the state of New York has launched a user-friendly and informative website to aid owners to locate any lost funds in their name.
The processes involved in claiming New York unclaimed assets have been simplified to make it easier and quicker. The state is just too happy to give its residents their money back so the State Treasury of New York took steps and the initiative to make notifications through ads, mails and publications. An online search is also possible in locating an unclaimed asset.
So where does the great influx of unclaimed assets come from and why does this happen? New York unclaimed assets can come from abandoned bank accounts, expired gift certificates, checks not cashed, payrolls not claimed and life insurance policies that are left unknown to heirs and beneficiaries. Most people are simply unaware of its existence or simply do not want to go through the trouble of making a claim which is actually sad.
Why make a claim if you know that you may have unclaimed property in New York? It is your hard earned money! Why give it away when you can claim it for your own use? New York unclaimed assets are in millions and some of that money might be yours! So do your part, make online researches and approach your state’s unclaimed property division for assistance. Make a rightful claim now before the prescribed period expires. Enjoy the fruits of your labor and claim what is rightfully yours today.