Claiming inheritance YEARS after a death..

notentirelysure · 17 April 2018 at 12:03PM

Hello,
I've recently started to have a closer look at my dad's finances as he has been diagnosed with a terminal illness. Amongst quite a few other muddles, I've realised that although my grandmother left everything to him, including tens of thousands of pounds in bank accounts and shares, he just didn't ever claim any of this. She died about 25 years ago. I've used mylostaccount to do a search and tracked down one account with 8,000 in it, and used bona vacantia, but this is all I've been able to track down. I know I probably just have to come to terms with the fact that we've lost it because he delayed doing anything about it for too long, but this is galling because my dad only has his pension and we're likely to need to pay for care for him. If banks were closing her accounts, would they have had a legal responsibility to contact us first? My dad is still living at my grandmother's last address. Is there anything else I can try...? Is it worth contacting banks directly (i.e. not through mylostaccount search)? Or asking a company to search on our behalf (and take a commission if they find anything)?

Or do I just need to take some deep breaths and accept that we're lucky to find ANY of it at this late stage?!

Any thoughts very welcome!

TonyMMM · 17 April 2018 at 12:17PM

First thing .... did your grandmother leave a will, if she did who was the executor ?

Is your father able to explain what happened (or didn't happen) when your grandmother died ?

Flugelhorn · 17 April 2018 at 12:19PM

Just wondering what the evidence was that there was so much in the accounts - was it just what your grandmother said? Would be surprised if the banks didn't send statements at some point

notentirelysure · 17 April 2018 at 12:40PM

Yes, she left a will, with my father as the executor. It has also been complicated to track down the original will so long afterwards (we had a copy) because the original firm had closed. But we've identified where this is, now.

As far as I know, he just delayed doing anything about it, not realising that this might mean he'd lose the chance to claim anything (he is a procrastinator, but I didn't realise that he'd procrastinated for SO long about this..! And I guess it is also tied up with grief and complicated feelings).

What I have that indicates what assets there were, is a slightly random collection of bank statements and letters about shares, plus some letters from companies offering to find assets for a commission (either letters written to my grandmother or my father - and these companies have gone out of business by now, too!). The most recent letters refer to assets of around £8000 so I think this may just be the amount I also found through mylostaccount, so we don't need to pay anyone to recover that.

TonyMMM · 17 April 2018 at 12:43PM

There is no reason why he can't apply for probate now....

notentirelysure · 17 April 2018 at 12:48PM

I don't think the problem is being able to prove his right to claim it, it's more that I think a lot of it isn't available any more. I think banks etc can close dormant accounts after a certain amount of time and you just lose the money...? I guess that's what I'm asking, if there any way of tracking down or recovering any more of what there was (or what it looks like there might have been!) ..?

nom_de_plume · 17 April 2018 at 1:07PM

notentirelysure wrote: »

.... and used bona vacantia,

Is she listed there?

macman · 17 April 2018 at 1:08PM

So your father was sole executor and beneficiary, but has taken no steps to wind up and distribute the estate in 25 years? What happened to Gran's possessions? Was the property never transferred into his name?
If your dad is not well enough to apply for probate, but of sound mind, then your only real option is to ask him to sign a POA to enable you to do it.
There could potentially be a fine payable of up to £3K for late filing of probate, so you really need to take professional legal advice.

Flugelhorn · 17 April 2018 at 1:46PM

From money supermarket

Once an account is identified as being dormant, the money is moved into a central fund which is put towards good causes. However, if you subsequently discover a forgotten bank account, you can still be reunited with your savings and the money will be transferred back to you.

buildersdaughter · 17 April 2018 at 2:24PM

I so often post 'ask the Probate Office' and I definitely would. Even if they can't actually help, they can point you at those who can, and they will be able to give you general information.

If you can gather that evidence then with information from the Probate Office, you can decide how much is worth your while. In your shoes I would do this, then approach the banks directly, and see where that gets you before making any other decisions.

And what a procrastinator your dad must be, to let this money slip by! Good luck, and please let us know how you get on!

notentirelysure · 17 April 2018 at 2:46PM

...What a procrastinator indeed! I have been trying not to feel too cross with him about it, because he's ill and I think he's stressed and embarrassed at me finding out more about the things he hasn't done over the years, but when I think about all the repairs to his house, holidays, etc he could have had over the years! And it would make such a difference to pay for some help for him at this stage too.

To answer some other questions: she didn't really have much property when she died - she'd sold her house and furniture when she came to live with us. I have just managed to get my dad to sign for me to have power of attorney (I had to fight the procrastination on that one, too!) so I can do some work on this for him. Bona Vacantia Estates were not able to trace a case under my grandmother's name. I thought we didn't have to go through probate (though I may be wrong!) as she left a will, and my understanding was that none of the accounts she left open when she died contained enough to require a Grant of Probate to be shown..?

That's good news about the possibility of claiming the money, Flugelhorn - it seems that it is at least worth a try! And yes, buildersdaughter, giving the Probate Office a call sounds like a good plan as well!

Claiming inheritance YEARS after a death..

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