The next of kin often handles the deceased person’s estate after death. The assets are then divided among the beneficiaries in accordance with this having been completed and any inheritance tax paid. What happens, though, if a missing beneficiary cannot be located? Everything you need to know about a missing beneficiary is covered in this blog.
What Could Cause a Beneficiary to Be Missing?
A beneficiary may not be present for any of the following reasons:
- Estrangement: Families are complicated entities, and members may grow apart or have disagreements. Wills might not be updated because this won’t always be the case. They could be hard to find if they haven’t been heard from in a long time.
- Out-of-date or invalid will: A will is probably void if it was not properly signed or witnessed or if it can be shown that the decedent was not mentally competent at the time of signing. This might also apply if there were any unofficial will amendments. This could alter who is eligible to receive benefits from the will, including beneficiaries who are difficult to contact.
- Death intestacy: Death intestacy is defined as the absence of a will. This indicates that the inheritance is dispersed in accordance with intestacy laws, which may include beneficiaries who are challenging to find. Since it’s estimated that nearly half of adult UK citizens lack a will, this might result in many people receiving unforeseen benefits from relatives they might not even know.
Tracking Down a Lost Recipient
There are actions to take in an attempt to locate a missing beneficiary:
- Consult with friends and family to find out if they know the person’s whereabouts.
- Social media – Thanks to the miracles of social media, many people can be easily found in this day of digitalisation. Try searching for them online to see if you can locate them that way, although it might be difficult if there is only one John Smith out of three hundred.
- Voter registration
- records of births and marriages
- Expert genealogist services (reconstruction of family trees, will searches, etc.)
What Happens if the Beneficiary is Not Located?
Following the procedures above, you have a few more choices if you still cannot find the absentee beneficiary. These are the following:
Held inheritance: If the recipient shows up, their portion may be retained for a while. This is a temporary solution.
Distribution of inheritance: The beneficiary’s share may be divided among the surviving beneficiaries. This would require indemnity coverage to guarantee the money can be reimbursed if the missing heir shows up.
Intestacy laws: The regulations governing intestacy may precede the deceased’s intentions and determine how the inheritance is allocated.
Contact Letter of Administration for professional will and probate advice on 0203 9859555.
