In an effort to assist residents in reclaiming their lost assets, lawmakers in partnership with the state treasury are organizing an unclaimed property clinic.
This initiative aims to connect citizens with their unclaimed money and other valuable possessions. Through this free service, individuals can recover their assets without the need to hire or pay anyone, ensuring that every rightful owner obtains what is rightfully theirs.
Unclaimed property can include a wide range of assets, such as:
- dormant bank accounts
- abandoned stocks
- uncashed checks
- savings bonds
- collectible coins
- sports cards
- jewelry
- military medals
- antiques.
Despite these assets being held safely in state vaults, lawmakers believe that citizens should regain possession of their own property.
Pennsylvania's Treasury Department is dedicated to reuniting residents with their unclaimed property, currently totaling more than $45 billion.
Shockingly, it is estimated that one in every ten Pennsylvanians is owed unclaimed property, with an average claim worth approximately $1600. During the previous fiscal year, the department successfully returned an unprecedented amount of unclaimed property, totaling almost $274 million.
To facilitate the process of locating and recovering unclaimed property, a Pennsylvania Treasury Department representative will be available at the Heritage House in Brookville, on Thursday, February 15, from noon until 4 pm.
The clinic offers residents the unique opportunity to meet face-to-face with an expert who will guide them through the entire process.
State Senator Cris Dush, Senator Joe Pittman, and Representative Brian Smith are spearheading this collaborative effort alongside Pennsylvania Treasurer Stacy Garrity.
Their primary goal is to eliminate any barriers residents may face when attempting to retrieve their unclaimed property. By offering guidance and support, these legislators aim to streamline the process and ensure a successful outcome for each individual.
Additionally, lawmakers have recently passed legislation authorizing the Treasury Department to return unclaimed property automatically, removing the burden of individually searching for it.
Until this measure becomes effective, clinics like the one in Brookville will alleviate some of the challenges associated with the search process.
