Genealogy services may be our bread and butter but it’s certainly not the only service we provide. We often work on estates which have been referred to the Government as unclaimed estate (or “Bona Vacantia”) to trace the beneficiaries to unclaimed estates. In this situation, the roles are reversed. Instead of potential clients contacting us, we contact the potential client, as a potential beneficiary to the estate.
This often takes people by surprise. Some immediately assume it’s a scam, while others think we’re trying to take the money for ourselves. These concerns are perfectly understandable. We want you to have complete confidence in our work which is why we’ve created this handy guide. Here’s how we administrate unclaimed estates, and how you can be sure that everything is above board.
What is an unclaimed estate?
Every year, thousands of people die without making a will. This is referred to as dying intestate, and it’s a growing issue. A third of the UK’s over 55s are currently without a will, meaning that the coming decades could see a steep rise in the number of unclaimed estates.
If a person dies without a will, their estate will be distributed among their surviving family: first their spouse or civil partner, then their children and so on. However, there may be times when the deceased’s family can’t be found. In these cases, the estate is held by the Crown as “Bona Vacantia” (goods without owner).
There are currently almost 6,000 of these unclaimed estates on the Bona Vacantia list. While the government updates the list regularly, it doesn’t actively attempt to track down beneficiaries. This means that estates can go unclaimed for months, years or even decades because the beneficiaries simply aren’t aware of their inheritance. This is where we come in.
What role does Family Wise play?
In order to help resolve these estates, the Government publishes a list of the unclaimed estates every day. We work on the Bona Vacantia list, research the names listed and make contact with any potential beneficiaries. This is a four-part process:
- We’ll send one of our distinctive purple envelopes. This will contain some general details about the potential inheritance (including details of the deceased and the relationship between you and the deceased) along with a request for you to contact us.
- Contact can be made with our offices by email, phone, post, website contact form or LiveChat to discuss the matter further.
- Once we’ve confirmed the connection, we will provide further details about how you can make a claim to the estate and appoint us to act on your behalf to administrate the estate.
- Returning the agreement with two forms of Government-approved identification, we can proceed with administrating the estate, whatever the deceased has left behind. We work on an agreed percentage commission of the final estate value. There is never any upfront cost to any beneficiary and, if the estate turns out to be insolvent, we won’t charge you anything as any percentage of nothing, is nothing!
My relative isn’t on the unclaimed estates list. Why are you writing to me?
Upon receiving one of our letters, many people will check the unclaimed estates list for confirmation. If their relative isn’t on there, they assume the letter is a scam.
There are a number of reasons why an unclaimed estate might not appear on the list:
- If we have already applied to administer an estate, the Government may have removed it from the list. You can contact the Bona Vacantia department to confirm this.
- Some unclaimed estates are not listed as Bona Vacantia, but as public health funerals. This is the burial or cremation of a body by the council in the absence of next of kin. A list of these can be found on the local council’s website.
- We also have various and numerous direct referral partners who use our services without referring to the Government as they have found, in us, a company they trust and have a great working relationship with.
How can I be sure this is legitimate?
Appearing on the Bona Vacantia list can prompt a deluge of letters from heir hunting companies. This can be very challenging, making it difficult for people to make a decision on which company to work with. In order to check out companies in the industry, there are a few things you can do:
- Check company listings on the Companies House website to confirm they are a genuine business
- Read company Privacy Policies to confirm that they are registered with the Information Commissioner’s Office
- Read testimonials from satisfied customers
At Family Wise, our business model is also designed to give you peace of mind. Many companies charge an hourly rate to administrate the estate, which can potentially mean the estate is rendered insolvent. We only take a percentage of the final settlement and so, with us, this will never be the case.
If you’ve received a purple envelope, or if you think you might be the beneficiary of an unclaimed estate, we are happy to answer your questions. Give us a call!
