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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 />

win $100 Cash<br />

identify the artwork below from one of the<br />

advertisements in this publication<br />

You Think it<br />

You Write it<br />

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l e t t e R s<br />

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Email:<br />

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Stevenson Ranch, CA 91381<br />

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