We welcome the recent news that the Government is receiving less money from estates where the person died without a will, and had no heirs.
This is both good news for the heirs and even better news for the heir hunters.
A drop from £38,500,000 in 2012
to £15,400,000 in 2014
means that the family of those who died, actually now benefit from their estate. Whilst this is good news, it comes at a cost. Heir hunters can charge between 10% and 40% of the amount you are entitled to from the estate. That can be a substantial amount.
The drop in heirless estates over the last two years amounts to £23,000,000. If the heir hunters who located the beneficiaries for that amount charged 40%, that's a sizeable £9,200,000!
Of course, if the deceased had made a will, those who benefit would have received their full entitlement.The cost of making a will is not high, however, the cost of not making one could be 40% of the estate.