[Help] Notification to Beneficiaries of a UK Will ?

[dazzer6666]

Lifted from the co-op website:

What to do if a beneficiary can't be found​

If a beneficiary can't be found, the first step is to ask the deceased’s friends and relatives if they know where the beneficiary might be. It may also be worth instructing a genealogist company to help locate the missing beneficiary (this can be paid for out of the estate).

You should also take out advertisements in a newspaper close to their last known residence (known as S27 notices). S27 Notices give any potential creditor or beneficiary two months to make a claim on the estate. Whilst they don't totally eliminate the risk of a claim, they do give some protection.

If this fails, these are the other options available:

• Hold back the of the money that the missing beneficiary is entitled to, so if they ever get in touch this can be paid to them. This can be the most practical solution for smaller estates and will mean the payments to the other beneficiaries aren't held up.
• Distribute the funds to the known beneficiaries, and get a written agreement from each of them confirming that if the missing beneficiary ever comes forward they will return their share of the money. This is done with an indemnity policy. Be very careful if you choose to do this because the beneficiaries could have spent all their inheritance by the time a claim is made and be unable to pay it back.
• Distribute the estate and take out an insurance policy, which will pay out if the missing beneficiary is traced. If you instructCo-op Legal Services probate specialists to deal with the estate, we can arrange this through our specialist provider.
• Apply for a court order known as a Benjamin Order. The court will make the order on the presumption that the missing beneficiary has died. If the beneficiary comes forward later, they can still try to claim their share of the estate from the other beneficiaries, but the executor or administrator is protected by the Benjamin Order. This is, however, a very expensive and time-consuming process.

 

[Milano]

There was a discussion over Christmas about not being able to trace a beneficiary of a will.

The situation was that 12 years or so ago there was an estate with a value of around 50k (nothing to do with my family at all) it had two executors and several beneficiaries with some getting minimal gifts of a few hundred pounds to several thousand. All was distributed within a couple of years except for one when one beneficiary who was due about 8k (if my recollection is correct) and could not be traced. The executors had tried last known addresses, telephone number, email addresses. I believe they had also put a notice in local newspaper in the area of LKA, all without success.

The funds were placed into a separate bank account where they still remain accruing whatever interest rate it can. The questions raised were how long it has to stay there and let’s say after 20 years what on earth is done with it?

It goes to King Charles?

 

[PILTDOWN MAN]

Sorry for your loss. I went through the same for my Mum in 2021.
As the executor you have a legal requirement to TRY to contact the beneficiaries. I ‘think’ it is also a requirement to post the death on a government ‘paper’ I can’t remember the name of it now, it is open to the public to view but is time bound, e.g. if no one comes forward within a set timespan then it is closed, it doesn’t stop you from settling the will with beneficiaries.
I did probate myself, the only complication was with HMRC (isn’t it always) as the valuation of the estate can be complicated, especially if you need a spouse inheritance tax allowance.
My only other advice if you haven’t already is to open a dedicated probate bank account, a few high street banks do them.

The Gazette

https://www.thegazette.co.uk/deceasedestates

 

[A mex eyecan]

Lifted from the co-op website:

What to do if a beneficiary can't be found​

If a beneficiary can't be found, the first step is to ask the deceased’s friends and relatives if they know where the beneficiary might be. It may also be worth instructing a genealogist company to help locate the missing beneficiary (this can be paid for out of the estate).

You should also take out advertisements in a newspaper close to their last known residence (known as S27 notices). S27 Notices give any potential creditor or beneficiary two months to make a claim on the estate. Whilst they don't totally eliminate the risk of a claim, they do give some protection.

If this fails, these are the other options available:

• Hold back the of the money that the missing beneficiary is entitled to, so if they ever get in touch this can be paid to them. This can be the most practical solution for smaller estates and will mean the payments to the other beneficiaries aren't held up.
• Distribute the funds to the known beneficiaries, and get a written agreement from each of them confirming that if the missing beneficiary ever comes forward they will return their share of the money. This is done with an indemnity policy. Be very careful if you choose to do this because the beneficiaries could have spent all their inheritance by the time a claim is made and be unable to pay it back.
• Distribute the estate and take out an insurance policy, which will pay out if the missing beneficiary is traced. If you instructCo-op Legal Services probate specialists to deal with the estate, we can arrange this through our specialist provider.
• Apply for a court order known as a Benjamin Order. The court will make the order on the presumption that the missing beneficiary has died. If the beneficiary comes forward later, they can still try to claim their share of the estate from the other beneficiaries, but the executor or administrator is protected by the Benjamin Order. This is, however, a very expensive and time-consuming process.

thanks for that. Interesting

 

[Shropshire Seagull]

Good thread - I've never had to deal with a will yet [mum is 90 and dad 96] but eventually, no doubt, that day will come ...

Anyway, was talking to a mate the other day and he shared an interesting story.
He's an only child, but was very close to his nan who died about a year ago.
When alive she had shared with him that her will was to be split 3 ways - him, his mum and his aunty.
His mum was the executor.
He has still not received anything, but he's heard his aunty, who he doesn't talk to, is off to Mauritius again [twice in 6 months] and he thinks she may have got her legacy already.
He was asking me if he could ask to see the will to confirm he was indeed a beneficiary [e.g. nan might have changed it?].
But he doesn't want to confront his mum - although she does have previous for being devious.
He think she could she be holding on to his share of the legacy?
Who polices an executor when a solicitor is not involved to ensure the will is being followed to the wishes of the deceased?
He said he'd rather not have the money than upset his mum ....

I have no idea, but legendary NSC knowledge may know ...

 

[Paulie Gualtieri]

There was a discussion over Christmas about not being able to trace a beneficiary of a will.

The situation was that 12 years or so ago there was an estate with a value of around 50k (nothing to do with my family at all) it had two executors and several beneficiaries with some getting minimal gifts of a few hundred pounds to several thousand. All was distributed within a couple of years except for one when one beneficiary who was due about 8k (if my recollection is correct) and could not be traced. The executors had tried last known addresses, telephone number, email addresses. I believe they had also put a notice in local newspaper in the area of LKA, all without success.

The funds were placed into a separate bank account where they still remain accruing whatever interest rate it can. The questions raised were how long it has to stay there and let’s say after 20 years what on earth is done with it?

About 10 years ago I worked for a bank that was solvently winding down. Part of the wind down was to close savings accounts and return the funds to the beneficial owners. A cohort of these accounts were those currently in probate that would not be resolved before the date that the banking license was returned. As the bank technically wouldn’t exist as an entity after the banking license was returned we had to set up a trust with another bank to house these funds until they were claimed, there was no end proposed of the trust from memory and it could well still be live.

 

[The Maharajah of Sydney]

Good thread - I've never had to deal with a will yet [mum is 90 and dad 96] but eventually, no doubt, that day will come ...

Anyway, was talking to a mate the other day and he shared an interesting story.
He's an only child, but was very close to his nan who died about a year ago.
When alive she had shared with him that her will was to be split 3 ways - him, his mum and his aunty.
His mum was the executor.
He has still not received anything, but he's heard his aunty, who he doesn't talk to, is off to Mauritius again [twice in 6 months] and he thinks she may have got her legacy already.
He was asking me if he could ask to see the will to confirm he was indeed a beneficiary [e.g. nan might have changed it?].
But he doesn't want to confront his mum - although she does have previous for being devious.
He think she could she be holding on to his share of the legacy?
Who polices an executor when a solicitor is not involved to ensure the will is being followed to the wishes of the deceased?
He said he'd rather not have the money than upset his mum ....

I have no idea, but legendary NSC knowledge may know ...

If a beneficiary has received an inheritance from a Will then probate must have been granted as the Executor or Solicitor cannot release funds until that process has been met.
Once probate has been granted the Will then becomes a public document and anyone is entitled to view the contents.
Search here ; https://www.gov.uk/search-will-probate
Whatever information that you have regarding the deceased person will help locate the Will if probate has been granted.
If found, add to basket, register for an account and pay the £1.50 download fee which will then generate an email link to the Will.
Further info here ; https://probatesearch.service.gov.uk/help

Good Luck !