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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10632
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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Under probate law, if a beneficiary can not be found and may

Resolved Question:

Under probate law, if a beneficiary can not be found and may have emigrated, what steps can be taken? His share is relatively small and could soon be used up in professional search fees.
Submitted: 3 years ago.
Category: Law
Expert:  Aston Lawyer replied 3 years ago.
Hello and thanks for using Just Answer.

My name is ***** ***** am happy to assist you with your enquiry.

In situations such as this, the Executor should take out Missing Beneficiary Indemnity Insurance. Most of the main Insurance Companies have such a policy and I would advise the use of a good insurance Broker or the Solicitor dealing with the Estate, to find the best deal.

I hope that this answers your question.

Kind Regards
Customer: replied 3 years ago.

I understand that it was possible at one time to pay unclaimed money into Court. Is such a course of action no longer available and if not is there a new alternative?

Expert:  Aston Lawyer replied 3 years ago.

Hi Deryk,

Thanks for your reply.

You can still pay money into Court and obtain a receipt, but nowadays, on the basis that these beneficiaries are very unlikely to turn up, the "new thing" to do is to take out a policy, and this then enables the Executor to distribute the estate fully and on the basis that the missing beneficiaries were not beneficiaries, meaning that the known beneficiaries get a bigger share of the Estate.

I hope this clarifies matters for you.

Kind Regards
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