January 3, 2012
Find Unclaimed Assets in Alaska – Part 1 of 2
(Part 1 of 2)
In 1880, Canadian Prospector Joe Juneau ushered in the gold rush era by finding gold in Alaska. America's coldest state also boasts the largest oil field in North America and its primary source of revenue is the natural gas and oil industry. There is another source of wealth that most residents of America's Last Frontier have not yet discovered- Alaska unclaimed money and assets. Alaska has the lowest population density in the entire nation – which means that life isn't really that busy or hectic compared to more densely populated cities like New York. It is strange, then, that according to a report by Fairbanks' The News-Miner, tens of thousands of Alaskans have unclaimed money waiting for them in the state capital of Juneau.
People and businesses often lose track of their assets while changing names, addresses, or closing shop and just plain forgetting. Unclaimed funds come from lost assets such as forgotten stocks and stock dividends, insurance policies, income tax refunds, long-dormant bank accounts, uncashed checks, and other financial assets. The Alaska Unclaimed Property Act requires the establishments holding these to turn them over to the state if their owners can't be located after a certain period of inactivity. This 'dormancy period' in Alaska is one year for utilities, five years for stock shares and checking and savings accounts, seven years for non-bank money orders and fifteen years for traveler's checks. The only tangible assets covered under the act are safe deposit box contents.
(to be continued)
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Alberta program returns missing
Dozens of Albertans are enjoying a little more cash this holiday season, thanks to a little-known provincial program that reunites people with
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