Unclaimed Property and Beneficiaries Who Can’t be Found

In probate court, when someone doesn’t have a will or other estate documents, the property of the deceased will pass according to Florida law—those are called intestacy statutes, or passing by intestate. But regardless of whether by will, or by intestate statutes, there needs to be an actual beneficiary to receive whatever is being inherited.

When Beneficiaries Can’t be Found

It does sometimes happen that the probate court knows who is supposed to get the property, but the person who is supposed to receive it (the beneficiary) cannot be located. The probate court can’t assume that person has died, and in fact there may be no evidence that the intended beneficiary is alive or dead. What happens to property when this happens?

Escheated Property

When this happens, property that the beneficiary was supposed to inherit, but can’t because he or she can’t be located, will eventually be claimed by the State. This is called an escheated estate.

Escheat is a last resort. Florida’s intestate statutes are pretty detailed and comprehensive—there is a list of who gets what, if there is no will, down the line of relatives. But many people may pass, with no living relatives, or none that can be found.

The personal representative of an estate is supposed to make a diligent and good faith effort to find all known beneficiaries, according to the will or intestate statutes, but that search isn’t always successful.

The Escheat Process

The personal representative of the estate must give public notice of the property in the estate, in an attempt to locate the intended beneficiaries. But if that is also unsuccessful, the property becomes unclaimed property with the state of Florida. The state will hold the property for 10 years, during which time if the known and intended beneficiary does show up, he or she can make a claim on the property or funds.

If, after 10 years, no such beneficiary claims the property, the property will revert to the state. Property held by the state after this time goes to fund Florida schools.

Looking for Property

There is a website for people to search, to see if they are entitled to property that may have been left to them. It’s the Florida Unclaimed Property website, and there is a public database for people to search (the website isn’t just for probate or beneficiaries of estate—it handles unclaimed property from a number of different sources). You can search the database at https://www.fltreasurehunt.gov

If you do search, and do see that you are entitled to property, depending on what kind of property and the amount, you may have to file a claim with the probate court, in order to get a court order telling the State to release the escheated, unclaimed property to you, although you don’t always need to do that.

Let us help you with the complexities of probate court. Call the West Palm Beach probate lawyers at The Law Offices of Larry E. Bray today for help with your probate law case.

Sources:

myfloridacfo.com/division/unclaimedproperty/home

sovos.com/tax-reporting/unclaimed-property-laws-by-state/florida/