Abandoned and Unclaimed Property

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Consulting firm Unclaimed Property Advocates, Inc. (UP Advocates) has the resources and experience to assist Holders with all unclaimed and abandoned property related services. UP Advocates works in affiliation with Urish Popeck to support its clients. UP Advocates offers its clients:

  • Industry knowledge
  • Experience with Third Party firms representing States
  • Experience in negotiating with the State
  • Ability to assist in reserve calculations (FAS 5 requirements) for financial statement audits

Economic conditions in recent years have resulted in increased attention on Holders of abandoned and unclaimed property. In addition to the commonly targeted industries such as retail, health-care, utilities, and manufacturers, the banking, insurance, and financial service industries are now finding themselves under scrutiny. Common reportable property types may include:

  • Un-cashed checks including payroll, vendor, dividend, interest, and travelers checks
  • Deposits
  • Customer or Consumer credit balances
  • Dormant bank accounts
  • Un-cashed money orders
  • Unredeemed gift certificates
  • Unclaimed insurance proceeds
  • Matured certificates of deposit

Aided by generous look back periods and relaxed statute of limitations, states such as Delaware, New York, and New Jersey have collected billions in unclaimed property. In this environment it is more important than ever for Holders to have the assistance of an experienced advocate. UP Advocates works with your staff to set in place policies and procedures specifically designed for your circumstances. We work to minimize your exposure and create value through remediation, due diligence, and application of statutory exemption.

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