Intestacy Research keeps the money in the family when there is no will
Intestacy Research is something which many individuals have recently found themselves conscious of through the television program Heir Hunters. Nevertheless, the various firms which operate within the sector have proven their worth in many different situations. They collectively have an impressive reputation for discovering the lost heirs of individuals who have died intestate. The job of heir-hunting may be a complex and laborious one, but the very best-performing companies are remarkably adept at it, and are always fast onto a case. Their speed has improved simply because they’re working in a highly competitive field.
The very best-performing firms within the heir-hunting milieu don’t operate by merely searching in one country – their investigations into lost heirs may easily also take them abroad. They employ a diversity of established methods to track down a beneficiary: not only mere expertise marks out the superior firms, but a determined attitude combined with perseverance are the undoubted qualities of their dedicated employees. Persistence without meticulous attention to detail is insufficient in what are demanding roles.
One way of obtaining excellent results would be to employ a networked approach. Heir-hunters who do this are much more likely to find success than those who utilise much less effective methods. Such experts sometimes offer a first example of their services without charging a fee in order to demonstrate that their techniques are the most likely to yield positive outcomes. That they do this may be taken as a sign of their confidence and integrity.
At Census Searches we are conscious of best practice in our sector and we like to think we’re more than a match for our competitors. This confidence is not mere arrogance; it’s based on the solid foundations of our remarkable track-record of delivery.
Intestacy and the Sole Trader
Leaving behind your loved ones is hard enough on the survivors. When you leave your estate and business intestate it can be burdensome to your relatives and friends. Intestacy means you have died without leaving a will behind or have left behind an incorrectly written and therefore invalid will. It may express your wishes, but something incorrect in the drawing up of the will can mean your friends and family must deal with British law in order to claim what is rightfully theirs.
A business left to a sibling, wife, or child means your legacy can continue. If you fail to write your will correctly it means the business ends up being divided and awarded according to the laws of intestacy. The law states that any business in intestacy, no matter what its worth or success, will be shut down or broken apart in order to satisfy the laws of intestacy. Your relatives could find a lower return and the closure of the business.
It is imperative that you protect your sole trader company with a proper will. In this way your beneficiaries can realise the full value of your company. A business is always a major asset, meaning you should leave it in the care of a trustee who can look after it following your death until the proper awarding of your entire estate, including the business, occurs.
With all of the different options we have today for drawing up a will, it is more important than ever to ensure you have followed the law. You should review the laws in the area in which you live. England and Scotland both have similar laws, but there can also be some differences between the two countries. This is why you need to research the intestacy laws. Avoiding online sites selling template wills is also a good idea when it comes to setting up a will as a sole trader.
Hiring a solicitor ensures you have a properly drawn-up will. A local solicitor will be well versed in the law of your area. When you have a solicitor drawing up your will there is less of a chance for your estate to be found intestate.
Your loved ones have enough pain and worry when you are gone. Making it worse by having an invalid will or no will at all is not something you want especially if you have spent several hard-working years establishing your company. Hiring a professional genealogy researcher can help you get past some of the walls that might affect your will. For instance, someone might claim to be a relative and bring your will into intestacy in order to contest the will. Combine a researcher with a solicitor and your will has less of a chance to be seen as invalid.
Why is it so important to leave a will? If you happen to be wealthy, it is also your responsibility to divide your wealth among those persons you wish to benefit from your property. This helps a lot in preserving the peace among close relatives, particularly those whom you have chosen as heirs. But what about those individuals who died without leaving a will? Legal complications are most likely to arise from this issue, which may lead to a long court proceeding among family members who claim to be entitled to the property left by their loved one, as well as the intervention of the state.
A researcher is usually hired by the court to investigate family disputes over the property of a deceased person who didn’t leave a will. In the United Kingdom, intestacy researchers provide the following services:
Research on the family and social background of the deceased. Intestacy researchers investigate the life and times of the deceased, and likewise look for their families, partners and closest friends in search of probable heirs. This can be a complicated job especially when the estate is really large, as there will be many people who would even fight in order to be identified as legal heirs.
Look into the intestacy laws that apply on the deceased’s estate. In general, the estate of the deceased is passed on to immediate family members or legal partners. However, when no written will was provided, the estate will pass to the Crown, also known as bona vacantia. The court will look into the findings of the intestacy researcher before ruling whether the estate has to be passed to the Crown and not divided amongst possible heirs.
Distributing the estate when the deceased has no surviving children. While it is the spouse or partner that becomes the legal heir to the deceased individual’s estate, investigation will still take place, particularly when the deceased still has a surviving parent.
Rejecting inheritance. Intestacy researchers also become highly useful when it comes to disclaiming wills. When a designated heir rejects his inheritance, the intestacy researcher would have to investigate any other possible heirs, and also see if the estate (or the disclaimed portion of the estate) will be passed to the Crown.
Solicitors usually hire intestacy researchers as they are more capable of looking into the facts of disputed heirs. This is because while there are individuals who leave a will, they may still become intestate due to certain disclaimed inheritances, or if their will was not properly executed.
Before a deceased’s estate is declared intestate, all possible heirs are first examined by the Treasury Solicitor so that the property will be distributed to the right individuals. This process may take some time, and the procedures can be tedious, especially when the estate is a large one. While common law has already provided the rules in distributing an estate among heirs, intestacy investigations are still conducted to prevent monies from falling into the wrong hands.