Warning: All Expats With Assets With California Companies

[Jingthing]

It seems like it is a good idea to make sure you have active contact with any assets you may have in California. This applies to both US people and all others:

http://www.sfgate.com/cgi-bin/article.cgi?...MNGONQPG2N1.DTL

... a growing number of people who believe that the state of California and its agents have been too aggressive in the past decade in seeking out private property -- from bank and brokerage accounts to safe-deposit boxes and payouts from insurance policies -- that is thought to be lost or unclaimed.

...

"I'm totally convinced that there are people all over Europe who believe they have property in California that instead has (been transferred) to the state," said Tucker, who now lives in Saratoga. "I was shocked by this -- how can the state take possession of property I own, that I actually had in my hands? I feel like they have stolen my money."

The Arnold must be fed?

Edited July 2, 2007 by Jingthing

[backflip]

Most states have similar laws. Illinois is an exception, and will hold unclaimed property forever.