Posted on 04/13/2011 7:45:29 AM PDT by pantherskincreek
The State of California has stooped to looting the contents of safety deposit boxes to bolster state funds.
“They should be able to sue and get it all back.”
The legal system cost $5000 down and $500/hour to operate.
There must be a gangster movie in here somewhere...
Are we referring to boxes belonging to those who’ve recently deceased? If so, this has been going on for a long time. When my dad passed in 1984, my mother went and closed the box out right away to avoid the state impounding the contents.
Would appreciate more details, please. And I’m not going to the blog.
If you’re planning on passing on gold to your progeny,
make plans for doing it “off the books”.
Here is one for a good laugh: http://www.alt-market.com/articles/92-fbi-raids-chuck-e-cheese-for-undermining-us-currency
So who authored this internal memo? One would think if the author has access to this memo, the name of the author would be provided.
. . .which at least requires that the property be accused of a crime, and can be fought in court.
Um, what? How can property be accused of a crime?
You didn't get the memo? *Property is criminal*
In the hands of the wrong people, that is...
My feeling about truly abandoned safe boxes:
1. obviously, SOMEONE has to pay the rent on the box; in the absence of that...
2. new legislation is needed, as there are some gray areas at present;
a. safe deposit boxes in banks should have within them a notarized “mini-will” about the contents of the box after the demise of its owner(s) (a chosen charity, or maybe a governmental agency, being designated as beneficiary);
b. a government “safe-deposit-box-morgue” established to hold the contents of abandoned safe boxes for 25 years — whereupon the contents revert to the designated beneficiary.
That way, you remove the greedy paws of government from the obvious conflict of interest we see at present.
No!
From the blog(Ludwig Von Mises Institute) CA is drilling boxes even if the owner is alive and the box rental has been paid.
The program was originally started with the intent of providing a method of handling unclaimed funds but has evolved as a revenue generating source for CA.
They have shortened the time to declare the funds unclaimed and have diminished the notice requirements to enhance the amount of money going to the state.
that’s why ya bury it in da yard...
A safe deposit box in a foreign country is an option. Several tax haven’s have safe deposit and storage facilities for the rich.
They are especially targeting the elderly. My parents got a “free for life” safe deposit box in the 1960s when they opened their account.
For the past few years, they get a letter annually saying that the contents are going to be sent to the state unless they object.
My Parents: Um, no, don’t send our stuff to the state. We’re still alive.
Bank: Well, then, you need to pay rent on the box.
My Parents: This box is free for our lifetimes; here is your paperwork from when we opened the account fifty years ago.
Bank: Well, it’s inactive—
My Parents: We’re not paying you a dime. And if you touch the contents of our box, we’ll see you in court.
Bank: [SHAKES FIST] See you next year!
My dad says the thing that really disturbs him is he and my mom are pretty tough and have all their marbles. He says, “What about our friends, and all the other millions of seniors in this state, who aren’t so sharp anymore and don’t have a lawyer for a son-in-law? What’s happening to them and their stuff?”
I hate my state more and more every day.
ABC News
May 12, 2008??
Government regularly accuses property of a crime—that’s how it “justifies” accusing you of a crime, and then taking your property without having to actually convict you of anything. It’s a huge scam, and a big problem that doesn’t get enough attention, imo.
More info here (or just google “civil asset forfeiture”):
They could raise a lot of money fast if they would allow people to make a discounted lump-sum payment to settle all future property taxes on homes. It would make the property’s resale value higher. Of course the state would squander the money quickly but at least a guy could feel like he really owned his home and wasn’t renting.
My mother had four children, after each birth she took out a prepaid $1000.00 life insurance policy on the newborn. I am the youngest and had completely forgotten about the old policy. The oldest is ten years older then me.
I was investigating the Wisconsin unclaimed property web page for an acquaintance and stuck in our family name on a whim. Surprise, there we were, all four of us with a nice little nest egg waiting for us. In my case over sixty years (my sister's was over seventy! but that's telling tales). Regaining the funds was a simple one page form, the state sent a check w/in two weeks.
Regards,
GtG
PS The other three got theirs as well, no problem.
Here’s another good article:
http://www.azcentral.com/arizonarepublic/opinions/articles/2010/04/05/20100405keller06.html
One of the principal obligations of a legitimate government is to provide and enforce safeguards for private property rights.
When a government actively abandons this duty and instead devises schemes to steal individuals private property it is acting in contravention to its legitimate purposes.
The results are always bad. Citizens start to hate and fear the government and when people do not view the government as legitimate,and hate and fear it, revolution is inevitable.
His blog is just a pass through to a three year sold story on the ABC News Website: http://abcnews.go.com/print?id=4832471
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