One of the more frustrating challenges of being an executor (personal representative, in Florida) of someone’s estate is not being able to locate an heir or other beneficiary of an inheritance. Even though it seems like just about anyone can be located via a quick online search these days, that’s not always the case.
People change their names, go “off the grid,” move abroad or become transient or homeless for any number of reasons. Missing beneficiaries tend to be people a decedent knew long ago and didn’t keep up with but still wanted to leave them something (or just didn’t update their estate plan to remove them). That doesn’t mean they’re any less entitled to any inheritance documented in a will or trust.
What does Florida law say?
That’s why Florida has a number of statutes that address the steps a personal representative is required to take to locate them and notify them of their inheritance. These laws also stipulate deadlines and time limits that must be followed for these notifications as well as where they must be published. The law requires executors to perform a “diligent search and inquiry” to locate any beneficiary named in a Florida estate plan.
Of course, it’s crucial to ensure that if someone is located, they are the intended beneficiary. That’s one reason it’s so important for those creating an estate plan to be as specific as possible when naming individual beneficiaries (as well as non-profit organizations and other entities), providing full names, addresses, phone numbers and tax ID numbers as applicable.
Contrary to popular belief, if a beneficiary cannot be located or confirmed to be dead, the assets don’t go to any contingent beneficiaries. Under the law, they are held for ten years and then they escheat (transfer) to the state.
Florida law is very specific regarding its standards in re: on how personal representatives are to handle situations in which a beneficiary cannot be located. There are multiple timelines that must be followed. Getting experienced legal guidance can help those involved in estate administration to avoid unnecessary and potentially costly missteps accordingly.