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What happens if it is impossible to find a beneficiary?

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What happens if it is impossible to find a beneficiary?
Submitted: 7 months ago.
Category: Law
Expert:  JustAnswerKM replied 7 months ago.
Good eveningEnsure that you have carried out a thorough investigation. Did you instruct an investigator. If you did and still no luck, the following options are available:Distribute the missing beneficiary's share to the remaining known beneficiaries in return the personal representatives of the estate ask for an indemnity from them to reimburse the personal representatives should the missing beneficiary come forward which may be worthless without tangible security;Personal representatives may insure against the missing beneficiary being traced. The insurance premium can be paid by the estate; Personal representatives can apply for a Court Order (“a Benjamin Order”). This enables the personal representatives to distribute the estate in accordance with the terms of the order. The court makes the order on the presumption that the beneficiary predeceased the deceased. Should it come to light that the missing beneficiary did not in fact predecease the deceased, he or his own personal representatives may pursue the other beneficiaries for his share and the personal representative will be shielded from personal liability by the Benjamin Order.I hope that helps.Best of luck,Kind regardsKrystel*Please rate my answer so I can be credited for it.

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