Unclaimed Estate or Trust Funds Database

An executor, administrator, or trustee may, at any time, and must, after five years of receiving assets of an estate or trust, if the heir-at-law or beneficiary cannot be located for the purposes of distribution of the assets of the estate or trust, apply for an order authorizing the transfer of the assets to the Public Trustee. These assets received by the Public Trustee, pursuant to the direction of the court, are converted into cash and paid to the Minister of Finance and Treasury Board. Unclaimed Estate or Trust Funds paid to the Minister of Finance and Treasury Board are then held until the Minister of Finance and Treasury Board is ordered by a court and authorized by the Governor in Council to release the funds to the rightful heir or beneficiary. There are time limitations outlined in the Public Trustee Act for the release of funds. The Capital Markets Administration and Compliance Division of the Department of Finance and Treasury Board manages Unclaimed Estate or Trust Funds.