WHAT IS UNCLAIMED PROPERTY?
Generally, any financial asset that has had no activity by its owner for a period of 1 year or more. This includes savings accounts, checking accounts, uncashed dividends, stocks, customer deposits or overpayments, certificates of deposit, credit balances, refunds, matured life insurance policies and uncashed death benefit checks. The law also requires that utility deposits, unclaimed wages and property resulting from business dissolutions be reported as unclaimed property after one year of inactivity. The Unclaimed Property Act does not include real estate.
Who can be the beneficiary of an Account?
Any U.S. citizen or resident alien, including the account holder, can be the beneficiary. The beneficiary must have a valid Social Security Number or Taxpayer Identification Number.
In 2013, Americans spent a total of $4.7 billion dollars on St. Patrick’s Day. Of course, not every shopper plans to budget the same way. Who buys and what is bought directly relates to how big—or small—a celebrant’s budget will be.
Our friends at U.S. News and World Report say Men spend the most. Men may not spend a majority of consumer dollars, but when they reach for their wallets, they go big. Compared to any other consumer demographic looking to make a purchase for St. Patrick’s Day this year, men have the biggest budget, with an average planned expense of about $45. Women, on the other hand, are only looking to spend around $32.
Young spenders, big spenders. Next to men, young adults take second place as consumers with the lightest wallets after St. Patrick’s Day. Those aged 25 to 34 plan on grabbing a little less than $45 in clothing, food and decorations.
May you find your pot of gold at the end of the Rainbow… by searching our database for your MISSING MONEY on this St. Patrick’s Day at www.wismissingmoney.org.
CLICK HERE for full article.
Health care and prescription coverage can represent a big financial burden. In the midst of financial hardship, it’s typically the first portion of a family budget to get slashed. If serious illness occurs, that could drive anyone to financial catastrophe. The past two weeks, we shared with you how to choose the best healtcare plan and dove into different types of Managed Health Care plans through our friends at www.practicalmoneyskills.com. This week, we stress the importance of staying healthy as part of your healthcare plan.
In addition to making life more enjoyable, living a healthy lifestyle is key to keeping healthcare costs down. People who live a healthy lifestyle tend to be more productive and better at handling stress, making them more valuable employees. Being fit can even save you on health insurance – many companies factor in height and weight when determining rates for consumers. Making healthy choices, like quitting smoking, can also help to keep your health care and medical insurance costs done. For tips on living healthfully on a budget, click here.
The law was enacted in 1970 to enable Wisconsin residents to search in one place for missing funds. After 1 to 5 years of inactivity Wisconsin businesses are mandated to turn over all unclaimed money, stock, and safe deposit box contents to the State Treasurer’s Office. This process relieves businesses from the expense and liability associated with carrying unclaimed property on their financial records. Most importantly, the process benefits Wisconsin residents because the State Treasurer’s Office makes an active effort to reunite all rightful owners with their unclaimed property.
The Wisconsin Office of the State Treasurer proudly teams up with WWBIC (Wisconsin’s Womens Business Initiative Corporation) for “Wisconsin Saves.” Each week, we will share with you a savings tip courtesy of WWBIC. This week, COLLEGE STUDENTS may not have the cash for a sunny beachfront Spring Break, but you can still have great fun…. for FREE!