 The treasurer's office is publishing the names of about 7,000
residents and businesses in central Illinois county newspapers
during the week of Aug. 16. All told, these lucky residents are owed
$3.5 million in "free" cash."If your name is on the list, you
have money or assets coming to you no strings attached," said
Giannoulias, whose office is in charge of reuniting lost, abandoned
or forgotten assets known as "unclaimed property" with the rightful
owners or heirs through the state's
Cash Dash program.
The Cash Dash lists will contain the names of Illinois residents
who are owed $100 in cash, any value of stock or have lost
safe-deposit box contents such as jewelry or other valuables. The
names and property were turned over to the treasurer's office by
financial institutions, business associations and other entities in
the last six months.
Nearly $50 million in state-issued Cash Dash checks have been cut
to 24,000 Illinois residents already this year, Giannoulias said.
Still, statewide, more than $1 billion is being held for 10 million
individuals and businesses.
To claim the money or assets, an owner or heir must locate his or
her name on the Cash Dash list or on the state's online database and
provide proof of identity, most commonly established by Social
Security number.
Lola Brown of Champaign County recently filed a claim after her
granddaughter discovered her name on the online database. She
received more than $2,000 from an old insurance policy.
"It was definitely a surprise," Brown said. "I appreciated the
service and the check."
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Unclaimed property consists of money and other assets held by banks
and other businesses and considered lost or abandoned after an owner
cannot be located for more than five years. Common forms of
unclaimed property include paid-up life insurance policies,
forgotten bank accounts and safe-deposit box contents.
Property owners' names are published in the county that
corresponds to the last known address provided by the bank or
business that turns over the property. In many cases, cash and
assets become lost because their owners move and forget to furnish
their broker, bank, employer or insurance company with a forwarding
address. Eventually, the money makes its way to the treasurer's
office for distribution.
There are many ways for residents to find out if the treasurer is
holding their property. Along with checking local newspapers in
February and August of each year, residents can search the
treasurer's entire database by visiting
www.treasurer.il.gov,
following the
Cash Dash link and typing in a name.
Throughout the year, the treasurer sponsors outreach activities
to help residents who are unfamiliar with unclaimed property or who
do not have Internet access to search the database for the property.
In addition, twice a year the treasurer's office provides state
legislators with a new list of owners of unclaimed property in their
districts, and the legislators are asked to contact the individuals.
Residents who want more information on unclaimed property should
contact the treasurer's office at 217-785-6998 or 312-814-1700.
[Text from file received]
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