Possible inheritance windfall

theoretica

My (not in depth!) understanding is the estate has to be paid out to all heirs, but the company can only claim a fee from the people who sign up. So if you team up with other relatives and some sign up and some don't could you get a lower overall percentage, and the ones who didn't sign make a gift to the ones who did to even things up? But if too few people sign the company may not go ahead.

I think I read on a previous thread that the companies only find out the size of the estate once they are committed to going ahead, though of course they can have a good guess from address and house value and things like that.

Yorkshireman99

PasturesNew wrote: »

If we assume it's true ... then they will have started from one of two points:

- the bona vacantia list
- a tip off, from a friend/neighbour, who's said "this person died and there are no relatives".

So, she could look at the bona vacantia list to see if there are any names that ring a bell.

But ... if you watch Heirhunters on the telly, you realise that those people are often untraceable to regular people. e.g. it might be, say, her grandmother's youngest daughter's grand-child from a second marriage. Or even a great-uncle's adopted child's child.

If she's on the bona vacantia list, others might also contact her - but that might take some time before they find her.

Difficult to know what to do. Check if they're reputable ...

I'd not pay more than 10%. But, if it's £2000 she'd get then they'll have paid more than £200 in certificates and staff costs to find her.

However, if there IS an estate, then she can't lose out by sitting on it for awhile... see if they offer a lower rate, or if others come looking for her.

10% is simply not a realistic percentage. The costs are far more than just that of certificates. Companies will always negotiate.

Ninnie

WOW! Thanks everyone for your advice, lot's to take in. I'll speak to my parents and see what they think and discuss it in depth as I don't want them to be ripped off.

The company seems legit - so we might sit on it a while to see if we are offered a better deal.

I think I'll also do some family tree research myself, to see what I can turn up. My time and effort is free, so nothing to lose there.

I'll keep you all informed as to what happens, though it may take some time.