[WSBAPT] Missing probate beneficiary

Wed Oct 10 14:13:48 PDT 2018

I think the monies are actually paid to the State of WA unclaimed monies fund after a period of time of a missing beneficiary - 3 years.
Have you hired a professional to look for the heir?  If not, I would recommend Dan Peyovich dpeyo at comcast.net<mailto:dpeyo at comcast.net>.
Here is his contact information.  He is not too expensive and gets great results.  His fees could certainly be paid from that heir's share...

Daniel and Associates
9805 N.E. 116th St. #132
Kirkland, WA 98034
O: 425.820.7081
M: 206.909.7960
F: 425.814.7378

Otherwise, you should check with the State of Washington:  https://ucp.dor.wa.gov/Default.aspx

About Unclaimed Property
Unclaimed property refers to property being held by an organization that has not had contact with the owner for an extended period of time. Property is usually considered unclaimed after three years, when it is turned over to the state of Washington. Banks, retailers, credit unions, utilities, corporations, insurance companies, and governmental entities are some of the many sources of unclaimed property.
The Department of Revenue is the custodian for unclaimed property, and it administers an unclaimed property program to seek the rightful owners.
Typical unclaimed property includes:

  *   Bank accounts
  *   Insurance proceeds
  *   Stocks, bonds and mutual funds
  *   Safe deposit box contents
  *   Utility and phone company deposits
  *   Uncashed checks, such as payroll, insurance payments, or travelers checks
Unclaimed property does not include real estate, vehicles, and most other physical property.
Unclaimed Property Law
(Chapter 63.29<http://app.leg.wa.gov/RCW/default.aspx?cite=63.29>)
State law protects unclaimed property until it can be returned. There is no time limit for filing a claim and rightful owners or their heirs can claim property reported since 1955. The state may auction the content of safe deposit boxes, however, if not claimed within five years.
The State's Role
The Department of Revenue administers an unclaimed property program as a free public service. More than $1 billion in unclaimed property has been turned over to the Department of Revenue since 1955. In fiscal year 2017, the Department's Unclaimed Property Section received property worth more than $127 million. The amount continues to grow each year. All funds are received and administered through the Department's Unclaimed Property Program.
Changes for Owners Claiming Securities - RCW 63.29.220
Securities to be Converted to Cash
Legislation effective December 20, 2011, directs the department to sell securities upon receipt as soon as practicable. If you submit a claim for securities and the Department has not ordered those securities sold, you may elect to have the securities returned or receive the net proceeds of the sale. If the Department has ordered the sale of a security, owners may only claim the net proceeds as of the date of sale.

Dalynne Singleton

Gourley Law Group
Snohomish Escrow
The Exchange Connection
1002 10th Street / PO Box 1091
Snohomish, WA 98291

360.568.5065
360.329.4079
360.568.8092  fax
dalynne at glgmail.com<mailto:dalynne at glgmail.com>

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Candace Wilkerson
Sent: Wednesday, October 10, 2018 1:56 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Missing probate beneficiary

I am about to close a King County nonintervention probate, but one of the probate beneficiaries has gone missing since probate was opened in 2015.  The personal representative tried to find him without success.

I'm going to try one more search before giving up, but if I can't find him: does anyone know the procedure for handling the distribution to a missing beneficiary and providing notice of closure of the estate to that beneficiary?  I assume the funds can be placed into the court registry, but do I need to do a petition for instructions to the court regarding notice to the beneficiary; or do I just publish notice of filing the Declaration of Completion in the Daily Journal of Commerce?  This could be an expensive publication.

Thanks for your thoughts.

Candace Wilkerson

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