Sara A. Lima Photo

Sara focuses her practice on navigating the ever-evolving unclaimed property (escheat) laws in a pragmatic and goal-oriented way. She has over a decade of experience in guiding clients through unclaimed property audit defense, voluntary disclosure, and compliance matters. She provides legal opinions addressing the ambiguity in state laws and assists her clients in preparing internal policies and procedures for managing unclaimed property risk. 

Sara is a recognized speaker on unclaimed property issues. Her work before the Uniform Law Commission and Delaware Senate Unclaimed Property Task Force on behalf of UPPO earned Reed Smith the 2015 and 2016 Unclaimed Property Professionals Organization (UPPO) Awards of Merit, and earned Sara the 2017 UPPO Shining Star award. Sara was awarded the UPPO Shining Star award again in 2020 for her work as co-chair of the Government Relations Advocacy Committee. (The Shining Star award is issued by UPPO. A description of the selection methodology can be found at No aspect of this advertisement has been approved by the Supreme Court of New Jersey.)


  • Temple University Beasley School of Law, 2002, J.D., cum laude; Recipient of the Albert Friedman Award; Paul Willig Scholar; Temple Beasley Scholar, Member of the Law Review
  • Vassar College, 1999, B.A., cum laude

  • Pensilvania
  • Nueva Jersey

  • U.S. District Court - Eastern District of Pennsylvania
  • U.S. Court of Appeals - Third Circuit
  • U.S. Supreme Court

  • Pennsylvania Bar Association
  • New Jersey Bar Association
  • Co-Chair of the Unclaimed Property Professionals Organization Government Relations Advocacy Committee, 2017-2018

Notable Quotes

  • 11 February 2021 “COVID-19 Spurs Banks, Brokers to Reclaim “Lost” Assets” Fin Ops Report 
  • 13 July 2020 “Del. Court of Chancery Rejects State’s AT&T Escheat Subpoena”
  • 3 June 2020 “AT&T Calls Del. Escheat Probe ‘Excessive’ in Chancery Court” Law 360
  • 19 July 2019 “Delaware Pretties Up Its Piggy Behavior” Palisades Hudson financial Group LLC 
  • 25 September 2017 "New Jersey Appellate Court Rules for Retailer in Unclaimed Property Suit" Tax Notes
  • 14 August 2017 "Corporate Close-Up: Delaware Continues Developing Unclaimed Property Rules" Bloomberg BNA
  • 3 August 2017 "Delaware Releases Updated Unclaimed Property Proposal" Bloomberg BNA Daily Tax Report: State
  • 26 July 2017 "Unclaimed Assets: New Rules, New Ops Headaches" FinOps Report
  • 4 April 2017 "Delaware's Draft Unclaimed Property Regulations Disappoint," Bloomberg BNA 
  • 4 May 2016 "Pennsylvania Conducting Audits to Find Unclaimed Securities, Practitioners Say" Tax Notes