Under Arizona law, there is a statute (law) that deals with the problem of a missing beneficiary. Arizona Revised Statute §14-3914 states what is to be done if an heir, a beneficiary where there is no Will, or a devisee, a beneficiary where there is a Will, cannot be found.
What does this statute say? If such a person cannot be found, the personal representative (executor) of the estate can distribute the share of the missing person to his or her conservator, if there is one. Otherwise, the cash must be deposited to the Arizona Department of Revenue into the permanent school fund. In short, the government gets it.
If a person later appears and claims to be the missing heir or devisee, that person makes a claim to the escheated property. “Escheated” is the legal term for reversion of property to the state or some agency of the state.
If the person shows up within seven (7) years, the person files a claim to the money with the Arizona Department of Revenue. Thereafter, the department can hold a hearing and “receive evidence,” if they like. If there is a hearing, the department issues a decision which is in the public record. If the claim is granted, the department issues payment immediately. If the claim is denied, the aggrieved party can then file an action in Superior Court to adjudicate the claim in court.