Missouri Unclaimed Money

Missouri unclaimed property ads cost more than $650000

JEFFERSON CITY | Missouri Treasurer Clint Zweifel spent more than $650,000 to run the newspaper advertisements listing the names of thousands of people with unclaimed property in state custody.</p><p>The treasurer's office is required by state law to publish the unclaimed property lists in general circulation newspapers serving the counties in which the people last lived. The lists raised eyebrows recently when they took up numerous pages in the St. Louis Post-Dispatch and The Kansas City Star.</p><p>Records provided by the treasurer's office show the state saved money by using the two big papers instead of several smaller papers in the metro areas. The records show the treasurer's office paid $656,724 to run the notices in newspapers statewide during the fiscal year that ended in June.

JEFFERSON CITY | Missouri Treasurer Clint Zweifel spent more than $650,000 to run the newspaper advertisements listing the names of thousands of people with unclaimed property in state custody.

The treasurer's office is required by state law to publish the unclaimed property lists in general circulation newspapers serving the counties in which the people last lived. The lists raised eyebrows recently when they took up numerous pages in the St. Louis Post-Dispatch and The Kansas City Star.

Records provided by the treasurer's office show the state saved money by using the two big papers instead of several smaller papers in the metro areas. The records show the treasurer's office paid $656,724 to run the notices in newspapers statewide during the fiscal year that ended in June.

Large unclaimed property accounts remain in Missouri ...

By BRYANNA HAMPTON

Missouri State Treasurer Clint Zweifel recently issued a $1.4 million unclaimed property return. It was the second largest unclaimed property return Zweifel has made.

The state has 41 accounts of greater than $100,000 of unclaimed property remaining. A total of 3.5 million accounts remain throughout the state, totaling $600 million.

Although the average unclaimed property return is $350, several unclaimed property cases are sums of $1 or $2 checks.

Jon Galloway, Zweifel’s director of communications and policy, said one in 10 Missourians have property to claim.

“There is no typical scenario,” Galloway said.

Large corporations split up large accounts into several accounts through mergers, check forwarding expires, life insurance policies take effect, stock shares are passed down – to name a few scenarios. Sometimes items are overlooked, forgotten or never made known, according to Galloway.

Other examples of unclaimed property handled by the state include bank accounts, stocks, bonds, contents of safety deposit boxes, government refunds, wages from past jobs and utility deposits.

“We strive to get these large sums out the door and back to businesses so they can put the funds to use,” said Zweifel said, who urges companies and Missouri citizens to check ShowMeMoney.com to verify any unclaimed property.

According to Galloway, the ShowMeMoney website cuts down on paperwork and processing time. Once an account is claimed, it takes about 21 days to be returned to the claimer, eliminating half the processing time before the website was operative.

Galloway said 50-60 percent of the claims processed through ShowMeMoney are paperless returns.

“It makes it easier on a few different levels,” Galloway said. “People can even search for their family and friends on the website to see if they have any property to claim.”

The remaining accounts that are worth more than $100,000 are located in St. Louis County (18 accounts), Jackson County (12), St. Louis City (three), Boone County (two), and Buchanan, Butler, Camden, Cole, Franklin and Jasper counties each have one.

“The state hangs on to these properties forever,” Galloway said. “If an account is interest bearing, we add interest for up to seven years.”

The state does not charge for the claim and return process.

To learn more and to search Missouri’s unclaimed property database, visit www.ShowMeMoney.com .

Martindale's unclaimed money, lands and estates manual, Devoted to the interests of all who are in search of unclaimed money, lands or estates--next of kin--heirs at law--legatees, etc. ...

The revised statutes of the state of Missouri, 1919, to which are prefixed the Declaration of Independence, Washington's farewell address, Constitution of the United States, annotated and indexed, act of Congress for the formation of a state government by the people of the territory of Missouri, ordinance of the convention assenting thereto, with the Constitution of the state of Missouri, annotated and indexed, and to which are appended laws of Missouri of limited application, and laws of the United States relating to authentication of laws and records, fugitives from justice and naturlization of aliens, together with forms applicable to the laws of Missouri : revised and promulgated by the Fiftieth General Assembly

Vernon's annotated Missouri statutes

Bulletin, Journalism series

The statutes of the state of Missouri, to which are prefixed the constitutions of the United States and the state of Missouri : with notes, references and an index