AUGUSTA, Maine – The Maine State Treasurer’s Office has reported that the state is currently safeguarding over $395 million in unclaimed property. In December alone, the office processed 1,900 claims totaling $2,176,869.98, with the highest single payment reaching $120,542.
Maine State Treasurer Joseph Perry emphasized the joy of receiving unexpected financial windfalls. “It’s quite a treat when you get something unexpected, especially if it’s a big check,” he noted.
Unclaimed property can include a variety of items such as checking or savings accounts, uncashed checks, gift certificates and cards, and contents of safe deposit boxes. Perry described the efforts of his small team, which manages to return approximately 73% of the collected assets back to their rightful owners each year. The remaining unclaimed amounts are transferred to the General Fund where they are retained indefinitely.
Many citizens might be unaware that the state could be holding their money. Perry recounted his personal experience of receiving $1,200 from an old insurance policy he no longer remembered owning. “It could be anything,” he remarked, highlighting the potential for individuals to rediscover forgotten funds.
The average claim amounts to between $600 and $700, while some claims can be substantially larger. Perry mentioned a notable instance where an heir forgot about a family trust, leading to a claim worth $7.5 million.
The State Treasurer’s Office offers its services at no charge until the assets are claimed. Residents can visit maineunclaimedproperty.gov to search for any unclaimed property in their name. The processing time for claims is typically around eight weeks.
Governor Janet Mills has designated the week of February 2nd through the 8th as Maine Unclaimed Property Week, encouraging citizens to check if they are owed any funds. For inquiries, individuals can reach out to the State Treasurer’s Office at (207) 624-7470 or toll-free at 888-283-2808.
This initiative highlights the importance of public awareness regarding unclaimed property, with the potential for many Mainers to reclaim forgotten assets and bring a positive surprise into their lives.