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What do do when there is no beneficiary?


I am the executor of my deceased father's estate, but his place of employment will not cooperate. I have sought a lawyer and and have been advised to write a letter and include a copy of my court document. I am awaiting an answer, but prior to, they claimed they are a private company and the money cannot go to my father's estate, which has been established through probate court.

You do need an attorney.

There are laws concerning escheatment of accounts that are meant to protect the true owners (like the estate) from these types of problems. If the company does not forfeit the cash, they cannot keep it, and they must allow it to escheat to the state. That includes all splits and interest. In most states, the law allows for substantial penalties if the holder (the company) does not cooperate with the owner, I have seen up to 12% of the total...

Get an attorney and remember, that the longer it takes, the more money you should receive.

Your lawyer can sue on behalf of the estate for any monies due your father.

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