Daniel Curran, Finders International MD, Discusses Unclaimed Estates
Have you already made out a will? This article discusses the situation where one dies intestate (without a legal will). While it discusses the U.K., similar rules apply in most other countries.
There are an estimated 8,000 unclaimed estates throughout the UK. This includes estates that have been left without a will, estates where the heirs are unknown, and estates that have been abandoned. The value of these estates is estimated to be in the billions of pounds.
As of April 25, 2023, there were 1954 unclaimed estates in London alone. These estates are worth a combined total of £600 million (based on the average value of unclaimed estates in London).
Unclaimed Estates in England and Wales are listed on the Government’s Bona Vacantia list, with cases often listed for years before an entitled relative can be traced and the legitimacy of their claim proven.
Daniel Curran, MD Finders International comments; “When a person passes away they may do so without leaving a Will or the Will they made is invalid. In both cases the estate is then treated as ‘intestacy’ and the rules of intestate succession come into force, according to the Country in which they died.
In most cases, the rightful heirs are out there. They might not be closely related – or even know of the deceased – but there are almost always family members who can be traced and can find themselves the recipients of an unexpected windfall.
Sometimes, this money can be life-changing; more often than not, it’s a nice windfall that can be used for a holiday, new car or anything else that might not have been possible without it.”
So, what do you do if you think you may be entitled to an unclaimed estate?
Each week www.bonavacantialist.co.uk publish the details of Unclaimed Estates as they arise. ‘Bona Vacantia’ means vacant goods and is the name given to ownerless property, which by law passes to the Crown. It lists a range of information known about the deceased including their name, age, place of death and any other relevant information known about their life including spouses.
Most recently, surnames such as: Searle, Berry, Hardie, Locke, Bellamy, McCarthy, Quinlan and Coombes have been listed with London as the place of death. Do you recognise any of these names?
If you believe that you may be the rightful owner of an unclaimed estate, you can contact Daniel Curran’s team at Finders International.
You can read more at: https://tinyurl.com/5n7jkwsh.