Priscilla for Probate

UNCLAIMED FUNDS

The State Treasurer has been advertising that his periodic listing of unclaimed funds will be published this weekend. I suspect that each and every one of us will peek to see if our name is on the list, or perhaps even look for the names of friends and relatives. Well why not, even Manny Ramirez appeared on the list recently. I'm still looking for my name.

On a smaller scale, the Barnstable Probate and Family Court holds approximately $1.4 million in custodial accounts for unknown heirs or for beneficiaries with unknown addresses. However, the court doesn't issue a periodic listing of those names. There is no public notice once those funds are deposited with the court.

When elected, one of my priorities is to more responsibly maintain those accounts and make those names known to the public.

I will maintain a web site, paid for by me and not at taxpayer expense. I will list those names on the web site in an effort to notify the rightful owners. While it is not the same as publishing the names in the newspaper, it is a start.

These funds are held in passbook savings accounts with area banks. They receive interest, albeit a small amount. Unfortunately, the smaller accounts are assessed a monthly fee, which is more than the amount of interest earned. The result is that the account is slowly depleted by the fees. As the court is the steward of these accounts, I will take whatever action is necessary to stop the assessment of fees.

The Cape Cod Times recently reported on this subject. If you would like to read that article, I have posted it on my web site at www.electpriscillayoung.com.