Undertaking a comprehensive financial asset and liability search when administering an estate or dealing with a Mental Capacity case is not only best practice, but it can save a world of worry further down the line.
This joint video by Anglia Research and Estatesearch outlines the benefits of conducting a search, including:
- Protects the Personal Representative and the beneficiaries from the risks of missed assets or liabilities.
- Reduces administration involved in checking paperwork and contacting financial institutions.
- Ensures all assets are repatriated and redistributed to their rightful owner.
- Prevents potential financial abuse against the estate.
- Enables a search to be undertaken on a living person for statutory will purposes.
- Demonstrates the application of best practice and following recommended due diligence.
With an estimated £200 billion in dormant accounts held by UK financial institutions, lost pensions and stocks, the available searches are invaluable in helping search for known, unclaimed or lost assets.
Please do get in contact with me or Allan should you require any further information.
This article was submitted to be published by Anglia Research as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.
