In many states gift certificates can NEVER expire. In most other states, even if they expire (say, after seven years), it only means that the owner of the certificate has temporarily abandoned the value, and it must be turned over to the state treasurer until the owner claims it. Approximately $8 billion goes abandoned this way in the USA every year.
The unclaimed and unused gift certificate money NEVER becomes the property of the merchant; it is held in trust for the recipient of the gift certificate. Embezzling abandoned funds could be a felony.
That would be up to the store that issued the gift card. Some gift cards do expire, others do not. It should say on the back or front of the card. If not, ask the store. Be aware of something else about gift cards. They may not expire, but some companies have adopted the policy of reducing the amount the gift card is worth over time. If not used within a certain time, say 3 to 6 months, the card may be worth only half the amount it was when it was issued. Again, check with the store that issued the card.
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