Being contacted by an heir hunter can be an unexpected and bewildering experience. An heir hunter, also known as probate genealogists, specialise in tracing the descendants of deceased individuals who have left behind unclaimed estates. If you’ve recently received a call or letter from an heir hunter, its because they may believe you are an heir to an unclaimed estate. Here is a comprehensive guide on what steps to take.
Stay calm and be cautious
First and foremost, remain calm. Receiving such a notice can be surprising, but it’s essential to approach the situation with a clear mind. While heir hunters often work legitimately, it’s important to be cautious to avoid scams.
Verify the credentials of the heir hunter
An heir hunter should be able to provide verifiable information about themselves and their business. Here’s how you can verify their legitimacy:
- Company information: Ask for the heir hunter company’s name, address, and contact details. If you receive a call, call the companies main office and verify the person contacting you is a legitimate employee.
- Professional associations: Check if the heir hunters are members of professional organizations such as the Association of Professional Genealogists (APG) or the International Association of Professional Probate Researchers (IAPPR). Blanchards are members of both.
- Online presence: Look up the company’s website and search for reviews or testimonials online. You can find our testimonials here.
- Documentation: Request official documents that validate their claims, such as a letter of engagement or proof of their authority to contact you.
Understand the heir hunter fee structure
An heir hunter will typically charge a fee for their services, often a percentage of the estate’s value. Before agreeing to anything, ensure you understand the following:
- Fee agreement: Ask for a written agreement detailing the fee structure. It’s usually a contingency fee, meaning they only get paid if you receive your inheritance.
- Comparison: Research and compare fees of other heir hunting firms. This helps ensure you are not overcharged.
- Negotiation: Don’t hesitate to negotiate the fee if you feel it’s too high.
Request detailed information about the estate
Before making any commitments, ask the heir hunter for comprehensive information about the estate, including:
- Deceased’s identity: Confirm the name and any other identifying details of the deceased individual. However, be aware that that they may be someone you are close with or someone you have never heard of.
- Estate value: Get an estimate of the estate’s value and what your potential inheritance might be. This may not be possible in the initial instance as any good heirs hunting company will perform an asset search to obtain the full estate value. However, an heir hunter can tell initially if the estate includes a property.
- Relationship: Clarify how you are related to the deceased. Heir hunters should be able to provide a family tree or similar documentation. This is how they found you after all
Protect your personal information
Be cautious about sharing personal information. Only provide essential details and ensure you are dealing with a legitimate entity before disclosing sensitive information. After you have signed your initial agreement, the heir hunter company will ask for ID. This can either be a certified copy or the original ID. We will return it once we have extracted the grant of probate.
Consider the tax implications
Inheritance can have tax implications depending on your jurisdiction. Consult with a tax advisor to understand any potential tax liabilities or benefits associated with receiving the inheritance.
Take your time
Do not rush into any agreements. Some heir hunters may sometimes push for a quick decision, but it’s important to take your time to ensure everything is in order. Take in to account all the above points and ensure you are comfortable and feel secure with the heir hunter company that will represent you
Conclusion
Being contacted by an heir hunter can open the door to an unexpected inheritance. However, it’s crucial to approach the situation with caution, verify the legitimacy of the heir hunter, and seek professional advice. By taking these steps, you can protect yourself and make informed decisions about your potential inheritance.
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