Q: I would like to know what happens to an estate if there is no will and there is no next of kin that claims it?
A: If the estate consists of financial account, they will be turned over to either the county or state treasurer. Eventually the state will claim the funds through the process of escheat. Then the next of kin will have five years to sue the state to get the money back. Before the escheat happens, though, the funds will probably be in the unclaimed property division of the state treasurer where they can be claimed by the next of kin through a simpler probate process.
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