There are people that i work with who want to escheat an IRA to the state before the 5 years. The owner died in 2007 with no beneficiaries. My question is, if property is escheated to the state before the 5 years and a representative of the estate happens to come along ( i know not likely after such a long time) or a family member who may be a default beneficiary under the plan to collect the money, is there any liability on the part of the financial institution? I don’t know if it matters but i am in Florida.

Thanks for any guidance on this issue