The Dr. Pat Show: Talk Radio to Thrive By!: Why States Are Looting Your Bank Account 33 Billion Worth of American Unclaimed Properties Ranging from Savings Accounts to Childrens College Funds Already in State Coffers
09/08/2008 10:30 am PDT
Golin had no larcenous intent. Quite the opposite. The 32-year-old banker was trying to keep the state of Pennsylvania from seizing her parents' savings.
You may assume it's safe to deposit money in a bank -- or buy stocks or other financial assets -- and then simply leave your account alone. It's not. Under most state laws, if you don't initiate a transaction or communicate with the financial institution about it, the account is considered dormant. After three years of inactivity, your assets typically can be turned over to the state.
Dr. Pat Baccili
Dr. Pat Baccili helps individuals and organizations break through their limiting Crust so they can reach their unlimited potential. Her specialty is assisting people face ...Find out more »
Valorie Golin, an expert on dormant accounts about states that are aggressively going after inactive bank accounts in order to generate revenue.When Valorie Golin went to vi...Find out more »