
Illinois Treasurer: Check Our Site For Unclaimed Cash & Property!
Reality check: That scenario in which a rich uncle that you've never heard of or met dies and leaves you a fortune in cash, valuables, and property is probably not going to happen. I say probably, because saying that's never, ever going to happen is kind of a buzz-kill, and I try not to be a buzz-kill...whenever possible.
So, this is me, Mr. Not-A-Buzzkill, telling you that even if there are no rich uncles, aunts, cousins, or grandparents, there's still a chance that somewhere here in the state of Illinois, a pile of cash and unclaimed property with your name on it actually exists.
And, with National Unclaimed Property Day just around the corner on February 1st, Illinois Treasurer Michael Frerichs would love it if you'd check out the stash of unclaimed property he's holding on to, to see if some of it belongs to you.
What Exactly Qualifies As Unclaimed Property?
According to NBCChicago.com,
“Unclaimed property” refers to items such as uncashed rebate checks or vendor checks, unpaid life insurance claims, forgotten checking accounts and the contents of overlooked safe deposit boxes, according to the Treasurer's office.
When companies and banks cannot return these items to the rightful owners, by law they are turned over to the state Treasurer.
When you include forgotten bank accounts, unpaid life insurance benefits, along with the contents of safe deposit boxes, Illinois' iCash program has now returned over $2 billion in unclaimed property that had previously been turned over to the Illinois State Treasurer.
In reading about the Illinois State Treasurer's Office hitting this big-dollar number, I also learned that here in the State of Illinois, one in four people (25%) actually have unclaimed property, and the average amount totals up to $1,000.
Here's The Thing--You Don't Have To Wait Until National Unclaimed Property Day On February 1st To Reach Out To The Illinois Treasurer's Office About Unclaimed Cash And/Or Property
There has been no shortage over the years of elected officials in Illinois holding onto cash that wasn't theirs, with probably the most notable being former Illinois Secretary of State Paul Powell, who, when he died in 1970, was found to have over $800,000 hidden in shoeboxes in his closet.
Mr. Powell's Illinois government salary never crossed the $30,000 mark, but somehow he was able to collect nearly five and a half million dollars for himself.
Illinois State Treasurer Michael Frerichs is not doing anything like that. As a matter of fact, he'll feel better if the rightful owners of money and property his office is holding would just come and collect it.
Click here to see if Illinois has unclaimed cash or property for you.
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