I got an email from my father yesterday, reminding me of about $1,500 I have stashed away at a bank back home in Colosse. Apparently, my folks got a letter from the state informing them that it was about to confiscate my funds for inactivitity. There is apparently some law on the books that any bank account that has not been touched in two years (money put in or taken out) must be turned in to the state. I suppose that the holder is presumed dead or something.

That’s actually kind of inconvenient, though, because I have rather enjoyed keeping that money out of my mind. It has been my last resort money if all other accounts have been exhausted. It’s the one bank account that never got put in the pot when I got married. Not because I was hiding it from her, but because I was hiding it from myself.

I wasn’t actually aware of this particular law until now, so I suppose I’m going to have to change my gameplan.


Category: Downtown

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2 Responses to Hideaway Money

  1. abel says:

    Smart law. Free money for the state. Figures.

  2. Will Truman says:

    I think that the state’s rationale is that it recoups the money unclaimed from those that have died, though it seems to me a couple years is a short amount of time to assume that someone is dead. I think the legal standard is usually seven years, in fact. From best I can recall from last time I touched the bank account, the state law must be only three years.

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