Corporate Escheat Solutions
Unclaimed Property
More information about the Unclaimed Property services provided at Springboard Legal
Who We Serve
Corporate holders seeking to comply with state abandoned and unclaimed property laws.
Industries Served
Core Services
Kimberly DeCarrera
Business Attorney and Fractional CFO
Kimberly DeCarrera is the managing attorney and CFO at Springboard Legal. She has worked with unclaimed property laws for 15 years, advising companies on compliance, audits, and VDAs.
Introduction to Unclaimed Property
If you are new to unclaimed property, it is probably because your company received an audit letter from a state. Or perhaps you heard an audit horror story and are looking to avoid the same fate.
But first, you need to know the basics of escheatment. Yes, we have three names for the same thing – unclaimed property, abandoned property, and escheat. Sometimes, you’ll even see it abbreviated as AUP (abandoned and unclaimed property) or UP (unclaimed property).
It’s all the same process, so let’s get you caught up on the basics of unclaimed property.
Proactively Manage Liabilities and Risk
Springboard Legal has three goals for your company:
Now is time to proactively manage your unclaimed property liabilities and responsibilities with a comprehensive compliance program.
Nexus Need Not Apply
Remember, unclaimed property is not a tax and traditional notions of nexus do not apply. Instead, property rights attach and you may be subject to reporting in states that you would otherwise not have any connection to.
