Yes, in that "they" meaning beneficiaries. So then it sits there for a predetermined time span? What is the end game in this type of situation? What is the role or responsibility of the estate administrator at that point?
- - - Updated - - - So to finish this thread from all the advice, this is where it ends: Mr. Knowitall advice led to - if not claimed by the beneficiaries it goes to the state's Unclaimed Property Administration.
http://www.unclaimedproperty.nj.gov/ http://www.missingmoney.com/Main/ClaimEligibility.cfm Then these options are left to claim the property: This claim information statement below came from the 2nd link. __________________________________________________ _____________________________
"I am a friend or relative of the reported property owner"... If the friend or relative listed as the "Reported Property Owner"
IS deceased, only a surviving spouse, estate administrator, or court verified heir has the legal authority to place a claim on the property. Documentation proving the claimant's authority will be required. If the friend or relative listed as the "Reported Property Owner" is
NOT deceased, only someone with legal guardianship or Power of Attorney over the "Reported Property Owner" may file claim on the property. Thanks everyone for your help in my effort to understand this situation my wife and I are in.