Missouri State Treasurer Clint Zweifel

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FOR IMMEDIATE RELEASE
Tuesday, October 2, 2012

 
Alzheimer’s Association St. Louis Chapter joins State Treasurer Clint Zweifel’s statewide education initiative to help return Unclaimed Property
Working with Alzheimer’s Association and AARP to reach older adult Missourians

ST. LOUIS – State Treasurer Clint Zweifel (ZWY-ful) was in St. Louis today to announce that the Alzheimer’s Association St. Louis Chapter has joined him and AARP Missouri in the new education initiative aimed at helping older Missourians with Unclaimed Property claims and management.

“Each year, more and more families are forced to deal with the wide ranging problems caused by Alzheimer’s disease which unfortunately can often include financial resources, life insurance accounts and property,” Treasurer Zweifel said. “My Unclaimed Property staff routinely handles questions or helps individuals with claims who are trying to work through the estate of an individual who is suffering from this horrible disease. I am working with the Alzheimer’s Association and AARP in the hope that by providing education and support we can make life a little easier for these hard working families.” 

Treasurer Zweifel will be providing education resources, a staff member and holding meetings to talk to caregivers and healthcare providers who are helping families deal with the finances of individuals suffering from Alzheimer’s.

“Research shows that one of the first symptoms of Alzheimer’s can be difficulty with finances and numbers,” said Carroll Rodriguez, Chief Operating Officer Alzheimer’s Association St. Louis Chapter. “This is compounded by the later costs of treatment and care for individuals and their families. 
We want to help families early in the disease with legal and financial planning to avoid having to address Unclaimed Property in the future.”

Treasurer Zweifel currently holds nearly $700 million in Unclaimed Property for more than 4.3 million account holders. The average returned account is $300. In the St. Louis region, there is more than $202 million in Unclaimed Property waiting to be returned to more than 1.3 million account holders.

Below are some tips for older Missourians regarding Unclaimed Property:
  1. Never provide personal or financial information to anyone you are unsure of.
  2. Treasurer Zweifel never charges for the return of Unclaimed Property.
  3. Let your family know where you bank, if you have safe deposit boxes, where you have insurance policies and how you want to handle your estate.
  4. If you receive a postcard from Treasurer Zweifel or see your name in the paper, contact Treasurer Zweifel’s office to begin the claims process.
  5. Sign-up to receive email notifications when new Unclaimed Property matching your information is added to the system at www.ShowMeMoney.com.
  6. More than 50 percent of claims can be filed online, meaning you never have to mail anything in.
  7. Treasurer Zweifel receives new Unclaimed Property each week. Check your information and that of your relatives regularly.
  8. Most types of Unclaimed Property are reported to Treasurer Zweifel after the company has been unable to locate the owner for five years.
  9. Unclaimed Property is made up of life insurance, uncashed checks, utility deposits, savings and checking accounts, certificates of deposit, safe deposit box contents, stocks and mutual funds. Treasurer Zweifel does not handle real property such as land and houses or certain types of personal property such as cars and boats.
  10. For questions or help, contact Treasurer Zweifel’s Unclaimed Property team at ucphelp@treasurer.mo.gov.
About Treasurer Zweifel’s Unclaimed Property State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets to Treasurer Zweifel that belong to a customer, client, employee or other owner if there have been no documented transactions or contact with the owner for five or more years. Most Unclaimed Property consists of cash from bank accounts, stocks, bonds and contents of safe deposit boxes that have been abandoned. It also can include uncollected insurance policy proceeds, government refunds, utility deposits and wages from past jobs. Treasurer Zweifel does not handle real property such as land and houses or certain types of personal property such as cars and boats. There is $700 million in Unclaimed Property maintained by Treasurer Zweifel. Treasurer Zweifel never charges for the return of Unclaimed Property.