• March 19, 2024
 Is your probate administration operation maximising estate values?

Is your probate administration operation maximising estate values?

In October 2019, £1.1 million of unknown assets was discovered for a beneficiary.

Professional executors are increasingly being used to handle the probate of estates, but how many of those estates might have hidden assets trapped within them? Are you ensuring that you are following the best practice procedures and searching for assets which belong to the estate?

A financial asset search could maximise the estate value and will ensure that you are following due diligence.

Executors have a duty of care to find the beneficiaries to an estate and to confirm that those beneficiaries are receiving what is owed to them. To confirm that you have thoroughly searched the estate for any outstanding assets, we recommend utilising an Inheritance Data financial asset search. This unique service explores over 200 financial institutions and 350 associated databases to establish the deceased’s financial history.

Inheritance Data, the UK’s leading Financial Asset Search experts, search a range of financial companies including banks, building societies, pension providers, savings and investments, DWP and FTSE 100 & 250 shares, to ensure they have provided a comprehensive report for you and your clients.

Once a financial institution has responded and informed Inheritance Data if they held an account or policy for the deceased, the information will be recorded in an online report, (match or no match), which reduces excess paperwork. The report is available to view online 24/7 from day one of the search, allowing you to keep updated with the progress of the search throughout.

In October 2019 during a search, £1.1 Million of unknown assets was discovered for an Executor to distribute to a sole beneficiary.

There could be concealed cash in an estate you are currently administering, and Inheritance Data can help you to maximise the estate value.

To find out more information about the service, please visit www.inheritancedata.co.uk.

Bruce Cane | Inheritance Data

 

This article was submitted to be published by Inheritance Data 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.

Inheritance Data

https://www.inheritancedata.co.uk/

Efficient and Effective Probate Solutions

Inheritance Data’s award-winning platform and unique technology capabilities offer an unrivalled level of solutions when looking for Assets, Liabilities, Wills or placing a Legal Notice, giving a complete searching solution for private client teams and executors.

Asset and Liability Search

Contacting over 350 financial databases, Inheritance Data’s joint asset and liability search is the most comprehensive search available, with exclusive access to search share and pension records along with banks, building societies, life assurance, Investment funds, the DWP, as well as providing a full credit and liabilities report. Our easy-to-use and user-friendly platform gives user a clear view of estate accounts and liabilities to allow for precise administration, as well as offering complete due diligence. Our unique Estate Distribution Warranty gives an unrivalled level of protection to executors and administrators should unnecessary costs be incurred due to a missed asset. To find out more about our products and services, please visit our website www.inheritancedata.com or contact our Business Manager Darren. Key Services Contact Information Inheritance Data Ltd. Unit 14 Philip Ford Way Wymondham, Norfolk NR18 9AQ Key Contact Email:  info@inheritancedata.com Phone: 01603 673250 LinkedInhttps://www.linkedin.com/company/inheritance-data Website: https://www.inheritancedata.co.uk/