Viewers of the BBC TV series Heir Hunters may need no introduction to the concept of heir hunting. But although a popular programme, with at times more than one million viewers, that still leaves many millions of Britons with little idea of what an heir hunter does.
The thing is, because of the nature of the job, heir hunters are most likely to find you – rather than you find them. So, when one introduces themselves to you, it can come a little out of the blue – or in the case of us “out of the purple” (we use a distinctive purple envelope when we write to prospective heirs)!
So, let’s do a deep dive into heir hunting to get you fully informed.
The Origins of Heir Hunters
In a straightforward world, whenever someone dies, they leave a will. They and all their family were on good terms and in touch, and the estate is easily distributed.
But as certain as death and taxes (thanks Benjamin Franklin), we do not live in a straightforward world. For a start, it is reported that six out of ten adults in the UK do not have a will. And, of course, sadly many families do not get on. Some suffer long-lasting feuds; others estrangement.
Enter the heir hunter!
Heir hunters are like private detectives who find people who are due money following a death but are unaware.
Most of the time, they initially take this on themselves by monitoring the Bona Vacantia list – that’s Latin for “ownerless goods”.
It is a list, published by the government, of estates being held by the Crown, pending the correct heirs being found. If they are never found, the Crown gets to keep the estate. So, heir hunters are trying to get the right inheritances to the right people in a race against time (for a fee of some kind – more on that later).
Who Might Heir Hunters Be Looking For?
Sometimes an heir hunter works for a family who approaches them, or solicitors or other professionals who want specific people found, perhaps with a will in place.
If though, someone dies without a will, this is known as being intestate and a hierarchy must be followed of who is entitled to inherit. It is not always intuitive and sadly can be divisive if inheritance goes to unexpected people. This is the order:
- Spouse or civil partner
- Children, and/or their descendants
- Parents
- Siblings, and/or their descendants
- Half-siblings, and/or their descendants
- Grandparents
- Aunts and uncles, and/or their descendants
- Half-aunts and uncles, and/or their descendants
As you can see, when someone dies without a will but they were married, it is simple. It would go to their spouse. Equally, if they were widowed, but had two children with whom they were in touch, it would be clear – it goes to them. No need for an heir hunter. But as you work down the list, it quickly becomes more complicated. Uncovering the rightful heirs is the job of the heir hunter.
An Example
Let’s look at an example
Henry is our subject. He led a busy life, and we’ll pretend he died without leaving a will. He was married when he died. He did have an ex-wife, too. Well, five actually – two of whom he divorced and three made him a widower, passing away from various afflictions: illness, executioner’s axe…
He had three children (legitimately) – two daughters and a son. But he outlived his son. Rumour has it that he had rather more children off the books.
So, who gets what, assuming current intestacy rules?
This one is actually quite simple! His final wife whom he was married to at the time of his death gets it all. The children from earlier marriages would controversially get nothing, as would his divorced spouses.
If he had no wife when he died, it would be his surviving children who would receive the inheritance. But there would be a case for heir hunting the illegitimate children too, to split the inheritance with his surviving daughters.
Traits of a Good Heir Hunter
A good heir hunter will be professionally well connected, being able to bring in the right resources to complete the job. They will be naturally inquisitive, persevering, and a people person/business who can connect with their clients.
Working With an Heir Hunter
If you are looking to work with an heir hunter, we hope our expertise will speak for itself as you look at our website. However, as mentioned earlier, the first you may hear of the term heir hunter is when one contacts you because they believe you or a relative is entitled to an inheritance.
From experience, we know this can come as quite a shock, and be viewed with some scepticism… and rightly so! We all have it drummed into us to be wary of scams – don’t click on that link, don’t give personal details over the phone and so on.
An out-of-the-blue communication from an heir hunter should be treated no differently, but it could be genuine. After all, a genuine heir hunter has to make contact with you somehow, right?
So, be cautious, be thorough, but keep an open mind. We would suggest judging the communication on its own merit. Is it professionally prepared or are there spelling mistakes or other warning signs? does it ask for money from you? Is the company registered on Companies House? Do they have a trustworthy online presence, for instance, a long-standing website, positive customer reviews and social media profiles?
If you are happy they are genuine, the next thing to understand is that you may be contacted by more than one heir hunter. They will all be working off the same Bona Vacantia list, trying to perform their service for you. You don’t have to work with anyone, but a useful service is being performed. So, if you want to accept their service, they will ask you to sign a contract agreeing to their terms.
At Family Wise, we offer a risk-free model where we charge you nothing if eventually, no inheritance transpires (this can happen if the estate turns out to be insolvent). We take an agreed percentage commission from the final sum. Watch out for firms asking for money from you, or who charge an hourly fee for their work done regardless of the outcome in addition to a percentage of the inheritance.
Talk to Us at Family Wise
If you would like to find out more about Family Wise and/or heir hunting, please do not hesitate to get in touch. We would be delighted to speak with you.
