Finders UK Announce Worldwide Bankruptcy Search Service

In the case of intestacy there are many hurdles between starting the search for beneficiaries and final distribution of the estate to the entitled heirs.

One of these is to conduct a Bankruptcy Search on those who are entitled to inherit and now Finders have introduced a Worldwide Bankruptcy Search service.

Professional probate genealogists, like Finders, commonly know as ‘heir hunters’, will have the facilities and experienced staff to deal with any issues that may arise, and offer a range of services like Worldwide Bankruptcy Search which gives assurance to anyone appointing them to trace missing beneficiaries. Finders heir hunters have a network of agents throughout the world and will feature in the new series of the BBC TV daytime show Heir Hunters which starts in 2014. On the show Finders are followed as they unravel intestacies, tracing missing or unknown beneficiaries and reuniting them with their rightful inheritance.

The process starts with the deceased and the search for a will. It is a cause of constant surprise to the heir hunters that so many people do not have a will or that they have a will that is not up to date or, frustratingly for the potential beneficiaries, a will that cannot be found. Even if there is a will there may be named heirs who are unknown to the executors who will engage a probate genealogy company to trace those missing beneficiaries. When there isn’t a will the probate genealogists go into heir hunting mode and invest their own time and expense to find those entitled heirs.

Although tracing the beneficiaries is not necessarily easy, especially when there is an international dimension it is only the start of the process. Their identities have to be checked and proved, an administrator has to be appointed as do solicitors to handle the legal aspects of the application but it doesn’t end there.

Prior to making distribution of estate funds to beneficiaries, it is a requirement to run a bankruptcy search against each individual heir in line to inherit. This again becomes more complex when heirs live abroad or have lived abroad. Finders can conduct these searches in a number of countries and can also undertake bankruptcy searches for UK based beneficiaries.

Assuming everything is in order and the estate is distributed to those rightfully entitled heirs there is one more thing to consider. What if a previously unknown beneficiary emerges who has a claim on the estate? It is the duty of search companies to go to every length to ensure that all those entitled have been traced, but on very rare occasions there may be someone who was completely unknown but who has a claim. This is why Finders carry missing beneficiary insurance another service that benefits heirs as well as both trustees and administrators.

The Worldwide Bankruptcy Search service is another of the many and increasing services Finders offer to both trustees and administrators, services that include, Missing Will Insurance, Dormant and Orphan Funds, Property Transactions-Missing Funds, Missing Will Service, Missing Document Service, Probate Property Sales and Services, Transferable Nil Rate Band Service, Missing Asset Service and many others.

Finders have been awarded the ISO 9001:2008 Total Quality Management certification and are the first probate genealogy firm to achieve the international version of this Standard as devised by the IAB (International Accreditation Board). Finders also provide missing beneficiary insurance, which protects trustees and administrators against the event of an unknown beneficiary emerging after an estate, has been distributed. As agents for Aviva they 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

Our Article Continues - Family Tree Magazine December 2013

Continuing Further questions..

Caroline: How long does it take to trace heirs and what happens if they don’t want to be featured on telly?

John: ‘Depending on the complexity of the case, tracing heirs can be done in a matter of hours thanks to the internet.

‘No one is featured, or even named, in the programme without their consent, and we respect the fact that not everyone wants to be on camera. This means some cases hit the cutting room floor because no heirs wish to be involved, but people are generally open to the idea of taking part in the programme and many are already fans of the series.

‘Any contact from heir hunters is likely to have come as a surprise and I think people usually experience a range of emotions. Most are quite excited to be told they might be in line to inherit some money. But this excitement is always tempered by the news that a relative has died – even if it is a relative they didn’t know they had.

‘In extreme cases where close relatives have become estranged, heir hunters can actually find themselves having to break the news that someone’s sibling, parent or even child has passed away. It’s an extremely difficult part of their job.

‘For many heirs, the news that they’ve been left a legacy by a long-lost relative is the start of a journey that will lead them to discover more about their own family history or the person that has died. We often follow heirs as they go on this journey and it has led to some of the most moving and memorable moments in the series.’

Caroline: Have there been best and worst case study outcomes?

John: ‘Yes, more best than worst. A common and very positive outcome is for families to either reunite or meet each other as a result of being contacted by the heir hunters. A story in the latest series sees two brothers who were both brought up in care meet for the very first time, which is extremely moving.

‘A very sad story, which emphasised the importance of making a valid will, was that of a Hampshire man in 2009. Before he died he had asked his accountant to draw up a will leaving his entire £300,000 estate to his brother-in-law and family to whom he was very close. Sadly it seems the will wasn’t drawn up correctly and was deemed invalid.

‘As his brother-in-law was not a blood relative, neither he nor his family could inherit. The heir hunters were able to find family members who were entitled to the estate, but the people named in the will were left with nothing.’

Daniel Curran, managing director of Finders, explains: ‘Every case is different, although patterns in research develop over the years. To start any case we need to gather all relevant information from wherever we can. This could be making enquiries of the neighbours – Finders has representatives all over the UK that can do this in person if the whole street is ex-directory – or simply ensuring we have properly consulted with our client or the person referring the case to us.

‘Attention to detail at the early stages is paramount as this can save you a great deal of time and effort. In one case we were told that the deceased had a slight Eastern European accent, despite having a generic English name, and this led us to enquiries in Poland. Family tree work is standard is many cases, but we have to remain aware of intestacy rules so as to be sure we have identified the correct heirs.

‘The best solutions are often to find an expert in the relevant county who can assist. We visit the British Library and other main resources in London, which is why you will find that the leading heir hunters are based in the capital.’

The internet is a major resource but Daniel warns: ‘You have to be aware of variations and errors in spelling. There is only so much the internet can help us with and we still go back to original records time and time again to check our facts.

‘Solicitors, if mentioned, may be a point of contact, but if a document mentioning a firm that could provide clues is over seven years old then there is a fair chance the solicitors will have destroyed their records.

‘Once we have identified who we are looking for – remember we often start from nothing more than a name and date of death – we then switch to one or more of the numerous databases and software programs we have bought or subscribe to’. There are cheap and free alternatives, but they may not provide the complete coverage up to the present date, for instance.

If you are a potential beneficiary of an intestate, then the first you’ll probably know about it is when a probate researcher gets in touch, either by phone or in person; beware of anyone that contacts you via unsolicited email. Bona Vacantia itself never sends out unsolicited emails.

To satisfy yourself you are not being ‘scammed’, check out the researcher’s credentials and ensure they have a Missing Beneficiary Indemnity insurance policy. Useful guidelines can be found on The Society of Genealogists’ website at tinyurl.com/pdvmn3f.
 

Steer clear of anyone asking you to pay a fee up front for bona vacantia claims. Genuine firms collect their agreed percentage fee once probate has legally been settled.

Our Story of Heir Hunters Published..