Covid-19 Update: We are continuing to provide our usual services whilst maintaining the safety of clients and colleagues. Read our latest update here.

Complete the form below to ask us a question or make an enquiry. We’ll get back to you via phone or email as soon as possible.

Insights

Unclaimed estates totalling £1.744bn from those without Wills

Posted on 02nd October 2020 in Probate & Wills

Posted by

Sue Halfyard

Associate and Chartered Legal Executive
Unclaimed estates totalling £1.744bn from those without Wills

It has been reported by a north-east property developer that there are approximately 7,991 estates currently left unclaimed in England and Wales. The total value of which is estimated at £1.744bn, equating to £218,300 per estate. They report that the majority of these estates have been left by single people who have not made a Will.

An unclaimed estate is essentially the assets left when someone passes away without a Will. The Government has a list of unclaimed estates which is updated regularly. An unclaimed estate remains on the list for 30 years and if not claimed then the funds pass to the Treasury. Certain family members could be entitled to the estate, although non-married partners and stepchildren are not included. A recent insight looked into as yet unclaimed estates published on the Governement webiste, and those who may be unaware that they are an heir.

The property developer was looking at this from the point of view that there is a lack of housing, however it does also highlight the importance of making a Will to ensure that your estates passes to the people who you wish to benefit rather than long lost family members that you have had not contact with for many years or you do not even know exist. In those circumstances, it can be a lengthy process to trace the family members and can be expensive.

If you would like to put a Will in place, or amend one you already have, our dedicated Wills team are on hand and happy to help. Contact them on 01392 207 020 or on our online contact form.

Contact the team

 


 

Paper plane

 

Get the latest news straight from our legal experts.

Subscribe to our newsletter to recieve current, dedicated, suppport and guidance from our solicitors straight to your inbox, wherever you are.

Subscribe

Company & Industry

Related Insights

Insights

New ‘Google Maps for Graves’ project

Posted on 20th October 2021 in Later Life Planning

There is a project that has been termed “Google maps for graves” which intends to map and photograph the Church of England’s 19,000 church graveyards, with the aim of recording every grave, headstone and memorial.

Posted by

Sue Halfyard

Associate and Chartered Legal Executive
Insights

Estate planning for blended families

Posted on 20th October 2021 in Family Law, Probate & Wills

The increase in the number of families, comprising of different families that have been linked by new relationships, can complicate the process of inheritance, the creation and administration of Wills, and the distribution of estates.

Posted by

Sue Halfyard

Associate and Chartered Legal Executive