Ramsey, NJ – Looking for a few extra dollars this holiday season? Regency Wealth Management has an idea for an unusual place to look.
Every year the state of New Jersey holds a substantial amount of unclaimed property until the rightful owner steps forward to claim it. According to the state’s website, this unclaimed property may consist of both tangible and intangible assets and must be held for the owners in compliance with New Jersey’s Unclaimed Property Statutes.
A wide range of property is held as unclaimed by New Jersey and includes real estate, insurance reimbursements, and tax refunds. The amount of money on hold varies and ranges from a few dollars on up. As a value added service, Regency searches for unclaimed property in the name of each of its clients. They have found that over 15% of their clients have some type of unclaimed property.
Mr. Timothy Parker, a partner at Regency Wealth Management said, “I did a search to see if I had any unclaimed property. I was surprised to find that I did indeed have some. I completed an online form and within a few weeks received the money.” Mr. Parker felt that keeping an eye on state-held assets was an additional way that Regency could serve its clients. As a result, the firm has implemented an unclaimed property review as a standard practice for all of its clients.
Once Regency completes a search, they send clients who may have unclaimed property a list for verification along with instructions on how to make a claim. One Regency client stopped by after receiving his notification. He was full of gratitude for the alert. Thanks to Regency’s work on his behalf, he has one more thing to be thankful for this year.