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

[rom299]

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?

 

[army judge]

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?

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.

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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




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Good luck.

 

[flyingron]

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.

 

[zddoodah]

Last Will designated one person as a solo beneficiary of whole estate "whenever located".

Whenever?

After obtaining LT, bank transferred all the funds to Estate Trust account

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.

Any chance to petition the court to transfer funds to Estate of deceased person?

Yes.

How strong these chances would be, if any?

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.

 

[rom299]

Will was executed in Russia.
They used Russian style... will indeed says "... all the property located anywhere.... to ... named individual. "

LT is letter testamentary.

 

[army judge]

Will was executed in Russia.
They used Russian style... will indeed says "... all the property located anywhere.... to ... named individual. "

LT is letter testamentary.

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.