When an heir hunting business traces
the beneficiaries to an intestacy where no next of kin have been traced, they
may ask one of the heirs to act as Administrator, which is the name for an
Executor when there is no will, they can also both be called a Personal Delegate.
An Executor is a person (or persons)
named in a valid will, who could be heirs or may not be beneficiaries at
all. The Executor(s) will lawfully own
all the assets from the time the Testator dies. The Executor(s) will not be clever
to take any of the assets into their own ownership nor dispose of them until
the will has been "proven" and their position as Executor(s) is
confirmed by a Grant of Probate (also known as a Grant of Representation). An
heir who becomes an Administrator has the identical responsibilities.
As is the case when tracing absent
heirs, there is the same pecking order of those who can become an Administrator:
·
The spouse or civil partner of the
Deceased
·
A child of the Deceased
·
A grandchild of the Deceased (or
further descendant thereof)
·
A parent of the Deceased
·
A brother or sister of the Deceased
·
A nephew or niece of the Deceased (or
further descendant thereof)
·
Another relative of the Deceased
The duties of an Executor or an Administrator
are alike and include duties to:
·
Safeguard and collect assets
·
Pay the debts of the Deceased
·
Distribute the remainder of the Estate
to the beneficiaries.
However if you are an heir and become
the Administrator you will perhaps need Letters of Administration (also known
as a Grant of Representation) to give you the authority to deal with the Estate.
Unlike an Executor, a personal spokesperson who intends to apply for a Grant of
Administration only owns the Estate once the Grant has been issued and has no
authority to act until then.
So none of the beneficiaries on
intestacy, whether or not they are a potential Administrator should, for
example, advertise a property for sale or dispose of any assets before the Grant
has been issued.
In order to execute these duties there
will be many tasks to be done before and after obtaining a Grant of Probate and
an Executor or Administrator is liable for administering the Estate for the
rest of their life. In theory it is possible for a bit to come to light many
years after the Administrator thought their duties were finished which they
will then be grateful to deal with.
This may sound onerous, but if none of
the heirs want to act as Administrator then there may be a trouble as without
one the Estate cannot be distributed to the beneficiaries. So if you are traced
by a skilled probate genealogy company (heir hunters UK) who think you to be a
valid beneficiary, and are asked to be the Administrator don’t be put off. The
heir hunters may also give you the option to instruct one of their panels of independent
solicitors to act on your behalf and distribute the Estate to all the equitable
heirs. This will ensure that you never have to pay for any legal fees in person.
A trustworthy heir hunting company will also carry Professional Indemnity
Insurance, which protects Trustees and Administrators further.
This is just another example of why if
you are traced by an heir hunting company; it is sensible to take advantage of more
of the extra services they provide. Professional Probate Genealogists, like
Finders, don’t just trace missing beneficiaries but work on their behalf until
the Estate is scattered to all the rightful heirs, and beyond that should a
missing beneficiary appear in the future.
In the case of Finders heir hunters, this includes tracing missing
heirs, missing wills, missing assets, completing estate distribution schedules,
obtaining missing beneficiary or missing will insurance and performing
worldwide bankruptcy searches, all to ensure that heirs receive their
inheritance safely and securely.
Finders heir hunters have been awarded
the ISO 9001:2008 Total Quality Management certification and are the first
probate genealogy firm to accomplish the international version of this Standard
as devised by the IAB (International Accreditation Board). Finders have also
been awarded
ISO/IEC 27001:2005 Data & Information Security
Certification. Finders heir hunters also provide Aviva missing beneficiary
insurance, which protects Trustees and Administrators
against the improbable but possible event of an unknown beneficiary emerging
after an Estate has been distributed. Finders heir hunters can also obtain
Aviva insurance against a will being found which disinherits heirs who have
received already been paid, thus safeguarding heir from ever having to repay
their inheritance once received.
As agents for Aviva Finders heir
hunters are regulated by the Financial Conduct Authority.
For further information and advice contact Finders, 6-8 Vestry
Street, London N1 7RE 020 7490 4935 www.findersuk.com
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