Westside Reader August 2015
A newsmagazine covering the communities of Stevenson Ranch, Westridge, Castaic and Val Verde on the Westside of the Santa Clarita Valley.
A newsmagazine covering the communities of Stevenson Ranch, Westridge, Castaic and Val Verde on the Westside of the Santa Clarita Valley.
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<strong>August</strong> <strong>2015</strong> <strong>Westside</strong> <strong>Reader</strong> • 23<br />
s C ot t w i l k<br />
unclaimed property<br />
treasure hunt<br />
by Assmemblyman Scott Wilk<br />
Contributing Writer<br />
There is nothing better than stumbling<br />
upon cash in the pocket of<br />
your jeans or lying around the<br />
house that you forgot about. Have you<br />
ever wondered if you have more money<br />
floating around from a closed bank account<br />
or a previous job that you are unaware<br />
of? Well, you just might be in luck.<br />
The state of California is currently<br />
holding onto $7.1 billion of Unclaimed<br />
Property, which belongs to approximately<br />
27.9 million individuals and organizations<br />
in California. Unclaimed<br />
Property can be anything: inactive bank<br />
accounts, safety deposit box contents,<br />
stocks, mutual funds, bonds, certificates<br />
of deposit, dividends, matured insurance<br />
policies, just to name a few.<br />
After learning about this program, I<br />
thought I’d give it a go; sadly, I was not<br />
one of the lucky 27.9 million folks with<br />
hidden money. The overall process was<br />
extremely easy — and fun! So I thought<br />
hey, why not make an event of this and<br />
try to reunite others with their unclaimed<br />
property.<br />
I hosted an event called “Refund Friday”<br />
at the Santa Clarita Senior Center<br />
and kicked off with donuts, coffee and a<br />
brief overview of the program and how<br />
to use it. Once word got out, we had over<br />
30 people drop by. The lowest amount<br />
found by a person was 20 cents and the<br />
highest amount was $3,600! All together<br />
about $6,000 in Unclaimed Property was<br />
reclaimed. The look on attendees’ faces<br />
when they discovered money was priceless,<br />
but nothing compared to the moment<br />
when a man who was down and out<br />
found $126 dollars and wept with joy.<br />
That was easily the highlight of the morning<br />
for me.<br />
The process took each participant<br />
about five minutes, tops, and for the<br />
lucky individuals who found money,<br />
checks were received seven to ten days<br />
after completing the claims process.<br />
After the positive response from the<br />
first “Refund Friday” event, I partnered<br />
with the Santa Clarita Valley Latino<br />
Chamber Business Alliance to host an<br />
event at their recent Networking Breakfast.<br />
The room was packed and roughly<br />
$3,200 was found.<br />
Each year, the State Controller’s Office<br />
sends out notifications to people, in<br />
hopes of linking the rightful owners to<br />
their property before it’s sent to the State<br />
for safekeeping. If you have missed, or<br />
failed to respond to, a notice regarding<br />
unclaimed property, you can find it on<br />
the State Controller’s website. There is no<br />
official time limit to when you can claim<br />
your property from the State, but the<br />
sooner you search, the quicker you will<br />
receive your money.<br />
If you are interested in learning more<br />
about unclaimed property or are curious<br />
to see if you have anything to claim, you<br />
can visit the State Controller’s website at<br />
http://www.sco.ca.gov/upd_msg.html to<br />
use the simple search tool.<br />
In an effort to help constituents, I will<br />
be hosting more events like these to<br />
hopefully find more homes for more unclaimed<br />
property.<br />
This is one instance where I can rightfully<br />
say, “I’m from the government and<br />
I’m here to help.” WR<br />
Assemblyman Wilk represents the 38th<br />
Assembly District, which encompasses<br />
Simi Valley, the northwestern section of<br />
the San Fernando Valley and most of the<br />
Santa Clarita Valley.<br />
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