Lost & Found (f/k/a Unclaimed Property News Roundup)
Given that we’re not cowboys, we’ve decided to rename our regular “news roundup” feature “Lost & Found” (which has more of an unclaimed property feel). In any event, here is this week’s version:
Nevada State Treasurer Marshall Elected NAST President — According to a press release from the National Association of State Treasurers (NAST), Nevada State Treasurer Kate Marshall was elected the 2012 NAST president. While the NAST presidency is no doubt the highest position, special recognition should also go to Utah Treasurer Richard Ellis who was elected Treasurer of the National Association of State Treasurers (kind of a Super-Treasurer). NAST is important from an unclaimed property perspective because state unclaimed property divisions are generally housed within the State Treasurer’s Office. The National Association of Unclaimed Property Administrators is a NAST affiliate.
Celebrities – They’re Just Like Us! (Unclaimed Property Version) – It’s easy to assume that Hollywood celebrities and national sports stars have cadres of accounts, bankers (or even worse . . . lawyers) to manage their affairs (the financial ones, at least) and to keep track of every dollar. Despite those efforts, however, even the rich and famous have unclaimed property. According to Radar Online, a number of A-List celebs — Brad, Angelina, Arnold, Kobe — all have money waiting for them with the California State Controller’s Office. Of course, we should never be surprised by who California is holding unclaimed money for. As we noted a few months ago, the California Controller’s Office is holding money for itself.
BBC Warns About Heir Hunter Scams — Last month, we mentioned a BBC show called “Heir Hunters” which, according to the BBC’s website “follow[s] the work of heir hunters, probate detectives looking for distant relatives of people who have died without making a will.” Now, according to IT security blog “Naked Security”, the BBC is warning of a scam being conducted by persons pretending to be with the show and requesting personal financial information supposedly in connection with abandoned estates. Though it goes without saying, we’ll say it anyway: never give your personal financial information in response to an unsolicited email, even if the source seems legitimate.
NMI Unclaimed Property Bill Moves Forward — Right before year end, we mentioned that the legislature of the Northern Marianas Islands approved an unclaimed property law. According to an article in today’s edition of the Saipan Tribune, the Commerce Department has recommended that the Governor sign the bill. The bill is now awaiting the Governor’s signature.