Holders: Don't Forget That You're Owners Too
Unclaimed Property Holders Should Take Another Look at Potential Claims
Before getting to unclaimed property news, just a quick word to our readers (both of you!): we hope that you and your families are safe and well during these turbulent times.
The COVID-19 crisis is, first and foremost, a human tragedy. But even if and when the virus is tamed, and the immediate economic crisis ends, there is expected to be a significant long-term economic disruption as well. One place where that disruption will be particularly felt is with regard to cash flow and liquidity. For companies operating on a thin margin, every dollar in the door counts.
Accordingly, this is a good time for holders of unclaimed property to remember that they very well may be owners of unclaimed property too. Often, companies do not bother searching for or claiming unclaimed property reported to the states on their behalf, thinking that the process is too cumbersome or not worth the effort. In these changing economic times, holders would be well advised to rethink that position and at least take a look at what is out there ready for claiming.