January 25, 2012
Locating VT Unclaimed Assets – Part 1 of 2
(Part 1 of 2)
The tiniest state capital in the United States, Montpelier, is located in Vermont. It is also the nation's largest maker of maple syrup and the state is also home to Ben & Jerry's Ice Cream company. Jerry Greenfield and Ben Cohen first got started in Burlington, Vermont on May 5, 1978 and the company's headquarters are currently set up in Waterbury. According to a recent press release from the Treasury Department, it seems that the New England state has even more sweet stuff to offer besides maple syrup and ice cream and it's in Treasurer Jeb Spaulding's office – Vermont unclaimed money.
The state currently has roughly 42 million dollars in Vermont unclaimed property that is owed to roughly 200,000 Vermonters. Forgotten financial assets in the possession of banks and other financial establishments are turned over to the State Treasury Department after a specified period of 'dormancy'.
The state then holds on to the lost funds and financial assets for safekeeping until the true owners come to claim them. The government is required by law to make efforts in tracking down residents who are owed cash and Treasurer Spaulding has actually been able to reunite some of the unclaimed property in Vermont with their jubilant owners.
(to be continued)
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