Tracing accounts

JayJay100

Not sure what to make of all this really, and at a bit of a loss.

Long story short: my birth mother, who I've always thought was dead, has recently died and named me in the will. She has left me the 'residue of the assets', after a number of large bequests, including properties. I've been told that the residue amounts to just a few hundred pounds. I've been provided with a copy of a bank statement for a current account, which shows just a few hundred pounds. Without going into the detail of why, I'm pretty sure that I'm being had over on this, and there's likely to be savings accounts, at the very least.

Does anyone know how I would go about tracing any other bank accounts, or even if I'm entitled to do so? I know that this will probably mean that I need to go through a solicitor, but I don't want to do that unless I know that there's something worth fighting for, as I have very little spare cash at the moment.

Yorkshireman99

JayJay100 wrote: »

Not sure what to make of all this really, and at a bit of a loss.

Long story short: my birth mother, who I've always thought was dead, has recently died and named me in the will. She has left me the 'residue of the assets', after a number of large bequests, including properties. I've been told that the residue amounts to just a few hundred pounds. I've been provided with a copy of a bank statement for a current account, which shows just a few hundred pounds. Without going into the detail of why, I'm pretty sure that I'm being had over on this, and there's likely to be savings accounts, at the very least.

Does anyone know how I would go about tracing any other bank accounts, or even if I'm entitled to do so? I know that this will probably mean that I need to go through a solicitor, but I don't want to do that unless I know that there's something worth fighting for, as I have very little spare cash at the moment.

Has probate been granted? That would be the starting point to see the will. Who is the executor? It will be next to impossible to find the accounts as banks will not disclose details.

JayJay100

My birth mother had two further daughters, and the elder of the two is the executor. I have seen the will. I understand that there's a delay on probate. I received a very snotty e-mail, as they thought I was causing the delay. I think that's why they sent me a copy of the bank statement, as if to say 'this is all there is'. They've definitely got me pegged as the enemy here.

Yorkshireman99

As residual beneficiary you are entitled to have a full set of the estate accounts. That should show the assets in detail. Quite how you can be holding matters up escapes me.

JayJay100

Thank you - I have asked, but in quite a roundabout way. After years of thinking I was an only child, I was delighted to discover two sisters, but it's now clear that they don't feel the same way. Someone has entered a caveat.

Voyager2002

I am aware of at least two companies that offer an asset-tracing service. One of them, Landmark, charges about 150 pounds and will only accept instruction from a solicitor. I forget the name of the other one: they offer a less comprehensive service and charge less, and will deal with ordinary members of the public. My solicitor mentioned them but in fact I used Landmark (and was not very happy with them.)

Anyway, in this situation you clearly are entitled to insist that the executors use an asset-tracing service. If they are using a solicitor then simply make your wishes known: otherwise simply call in to any solicitor's office... a receptionist might know the name of the asset-tracing service that they use, or would probably find out quickly and tell you without charge.

stevecurtis

You could try using https://www.mylostaccount.org.uk/index.htm

dresdendave

You mention large bequests, including property. Does that mean some of the bequests are cash amounts? For example, £20,000 to cousin Bert, £30,000 to RSPCA etc. If so, these could easily drain money from any savings accounts.


As mentioned in a previous post, you are entitled to estate accounts. Might be worth in a firm but polite manner letting the executor know this. The more knowledgeable you seem to be, the less likely they will be to try anything underhand.

Yorkshireman99

JayJay100 wrote: »

Thank you - I have asked, but in quite a roundabout way. After years of thinking I was an only child, I was delighted to discover two sisters, but it's now clear that they don't feel the same way. Someone has entered a caveat.

Do you know who has entered a caveat and why.

JayJay100

Thank you for all of your suggestions and help. Plenty to think about, for sure.

dresdendave - there are some bequests that are cash-based, which is one of the reasons why I think there must be a saving account, if not more. Yes, it's possible that it only contains a sufficient sum to satisfy the bequests, or maybe not even that much, but then they would call upon the current account that I do know about. I just feel as though they're not being straight with me, but, in a strange way, I understand why too.

Yorkshireman99 - I'm very much out of the loop, which I understand to a degree; maybe I was as much of a shock to them, as they were to me. I've no idea who entered the caveat or why they have. All I have is the initial snotty e-mail, blaming me for stopping probate, and then a very brief one, saying that a caveat had been registered, which was causing the delay.

Yorkshireman99

JayJay100 wrote: »

Thank you for all of your suggestions and help. Plenty to think about, for sure.

dresdendave - there are some bequests that are cash-based, which is one of the reasons why I think there must be a saving account, if not more. Yes, it's possible that it only contains a sufficient sum to satisfy the bequests, or maybe not even that much, but then they would call upon the current account that I do know about. I just feel as though they're not being straight with me, but, in a strange way, I understand why too.

Yorkshireman99 - I'm very much out of the loop, which I understand to a degree; maybe I was as much of a shock to them, as they were to me. I've no idea who entered the caveat or why they have. All I have is the initial snotty e-mail, blaming me for stopping probate, and then a very brief one, saying that a caveat had been registered, which was causing the delay.

The caveat means that somebody else is not happy with the way things are going. If it was not you then they can hardly blame you. Perhaps you might try the polite approach explaining you are not responsible for the caveat. Cost nothing to try.