We were recently interviewed by The Times for their article on the growing field of inheritance hunting. In the article, Blanchards and our sister company Athena Probate share how genealogy research is unlocking fortunes for unsuspecting heirs across the UK. The article outlines how firms like ours trace unclaimed estates through government records, reconnect families, and sometimes turn a single phone call into a life-changing windfall.
What is an Unclaimed Estate
An unclaimed estate refers to the possessions and assets left behind by someone who has passed away which have not been claimed by any known relatives or beneficiaries. This includes financial accounts, property, vehicles, investments, jewellery and other personal items.
Bona Vacantia with Unclaimed Estates
Currently there are almost 5,800 unclaimed estates sitting in the government’s Bona Vacantia list. Blanchards do a large portion of work involving unclaimed estates listed by Bona Vacantia. When someone in England or Wales dies intestate (without a will) and no obvious next of kin, their estate is passed to the Crown. With these cases, heirs have up to 30 years to claim their inheritance providing they step forward within 12 years. The rule of intestacy demonstrates that relatives as distant as cousins can still make a claim.
Why Are There So Many Lost Inheritances
There’s not a singular reason why unclaimed estates occurs. Some cases, the lack of estate planning where the deceased passes away without a will which the complicates the process of distributing the assets. Other times, there can be distant or unknown relatives which can cause the probate process to slow down due to tracing and locating the beneficiaries. In certain cases, when there is no designated executor responsible for managing an estate, it can result in properties being abandoned and assets going unclaimed. Overall, unclaimed estates result from various reasoning which each factor has their challenges which can delay the probate process.
According to The Times, over £9 million in unclaimed estates was transferred to the Treasury last year alone. Rising property prices mean more estates than ever now exceed seven figures.
How Do I Check If I Have an Unclaimed Estate?
While you can check the official Bona Vacantia list for free on the UK government’s website. The process of recovering an unclaimed estate is a lengthy process. This is why hiring a probate researcher is widely regarded as the most effective solution. With specialised expertise and access to resources, a probate researcher can efficiently manage your claim to an estate, ensuring an accurate resolution.
Conclusion
The Heir Hunter industry is growing as the number of unclaimed estates continues to rise due to individuals passing away without a will or known relatives. While property values increases and modern families spreading across multiple countries, tracing rightful heirs has become more challenging. For more insights into inheritance and Blanchards, read the full article in The Times.
If you believe you may be entitled to an unclaimed estate or need guidance navigating probate, don’t hesitate to reach out. For more articles that are like this, read our other blogs.
