1. Free Legal Help, Legal Forms and Lawyers. TheLaw.com has been providing free legal assistance online since 1995. Our most popular destinations for legal help are below. It only takes a minute to join our legal community!

    Dismiss Notice

Can I Petition to Changing IRA Beneficiary, if Person Cannot Be Located

Discussion in 'Estate Administration & Probate Court' started by rom299, Feb 8, 2020.

  1. rom299

    rom299 Law Topic Starter New Member

    Messages:
    6
    Likes Received:
    0
    Trophy Points:
    1
    Jurisdiction:
    Wisconsin
    Last Will designated one person as a solo beneficiary of whole estate "whenever located".
    Besides validly executed will, there is handwriting from the deceased explaining why he made this decision: ".... this person, and this person only, took good care of me for the last years of my life..."
    After obtaining LT, bank transferred all the funds to Estate Trust account, except IRA. Banker refused to show original IRA policy. She was just trying to read beneficiary's 1st and last name. That name was written many many years ago in very poor quality handwriting. What is worse, nobody knows who that might be. Even these who had known deceased for years; even whole life. We sent letters to all prospective (but disinherited) heirs, ex-wifes, relatives, all possible and impossible people. No body knows this person. Never heard. No chance to locate this ghost.
    It seems that in three years these funds will go to the state of CA.
    Any chance to petition the court to transfer funds to Estate of deceased person?
    How strong these chances would be, if any?
     
  2. army judge

    army judge Super Moderator

    Messages:
    31,556
    Likes Received:
    4,679
    Trophy Points:
    113


    Free advice is of little, if any use in your situation.

    If the uncertainty of this matter vexes, perplexes, and befuddles you, your best option is take all relevant documents you posses and discuss the matter with a CA or WI attorney proficient in CA and/or WI estate law, will, and/or trust matters.

    The attorney would need to review the documents and research applicable CA and/or WI estate law, before opining on what remedies might be available to you, if any.

    ========================

    Escheat is a legal process that transfers ownership of abandoned property to the state. In California, for instance, landlords, banks and other organizations that have control over others' property must return it to their owners after three years of inactivity.


    Escheat: The State's Effort To Seize Property | Stimmel Law


    California State Controller's Office: Unclaimed Property

    UCP Inquiry System

    California Unclaimed Property and Escheat Reporting - Quick Guide




    =======================

    Good luck.
     
    rom299 and justblue like this.
  3. flyingron

    flyingron Active Member

    Messages:
    540
    Likes Received:
    227
    Trophy Points:
    43
    Indeed in California, you can go to probate court to resolve the issue, possibly. There are other steps that may be more prudent in advance of that.
     
    rom299 likes this.
  4. zddoodah

    zddoodah Well-Known Member

    Messages:
    3,536
    Likes Received:
    812
    Trophy Points:
    113

    Whenever?

    I assuming "LT" refers to letters testamentary, but there are other things that those two letters could reasonably refer to, so you should clarify that my assumption is correct.

    Yes.

    Not sure how to answer this question in a meaningful way -- especially since we have no ability to read any relevant documents.

    As mentioned at the other site where you posted about this, the executor of the estate should confer with his/her attorney about this.
     
    Last edited: Feb 10, 2020
  5. rom299

    rom299 Law Topic Starter New Member

    Messages:
    6
    Likes Received:
    0
    Trophy Points:
    1
    Will was executed in Russia.
    They used Russian style... will indeed says "... all the property located anywhere.... to ... named individual. "

    LT is letter testamentary.
     
  6. army judge

    army judge Super Moderator

    Messages:
    31,556
    Likes Received:
    4,679
    Trophy Points:
    113


    Now you have a bigger problem, if you wish to use a will created in another sovereign nation, other than the United States of America.

    Many wills created in other countries are valid in the USA.

    Many wills being valid, means that some wills are not valid in the USA.

    I suggest you take the will to a local attorney for further guidance.

    There are many additional hurdles that one must jump to determine if a foreign will is valid in a particular state.

    First and foremost, the will must be translated before the attorney can read it.

    Once that hurdle has been jumped, the will must be translated by a certified apostille service, which simply means: An "apostille" is a form of authentication issued to documents for use in countries that participate in the Hague Convention of 1961.

    Russia acceded to the 1980 Hague Convention on the Civil Aspects of International Child Abduction (Hague Abduction Convention) on October 1, 2011; however, the United States and Russia are not yet treaty partners.

    That might be a bigger problem for you, which is why you need an attorney to help you sort this out.

    In some cases, a will derived in a foreign country can only be probated in the country of creation.

    Again, if the will attempts to bequeath property in the USA, for example, that might be impossible.

    It is time for you to retain counsel, if you wish to proceed further.

    Good luck.
     
    Zigner likes this.

Share This Page