Inheritance

[Frankie]

A friend has asked me for advice.

I have a question and wander if you know the answer. My Gran died a while ago and has left me a small sum of money. In fact she has left all of my brothers and sisters some money. The problem is this was two years ago when she died but they won’t release the money until they find my sister which was adopted. Do you know if there is a time limit on this or is it indefinite as she said that we all must have an equal share. The solicitor seems to think that we can have nothing until she is found as the will states an equal share. If she is over seas this may never happen? Only asking you as you are good with things like that.

Appreciate any legal minded responses.

[Coldrop]

Frankie

I can't help except for offering this website, it may be of use or lead you in the right direction

http://www.thisismoney.co.uk/iht

[HelenPJ]

Hmm, tricky area
Try a look at the Court Service Website... especially here:
http://www.hmcourts-service.gov.uk/cms/1154.htm

Probate and Inheritance Tax Helpline

For general advice on applying for probate in England and Wales you can contact the
Probate and Inheritance Tax Helpline. Calls are charged at local rates.

The Probate and Inheritance Tax Helpline is open 9.00am - 5.00pm Monday to Friday

Telephone: 0845 30 20 900
Fax: 0115 974 2432

might be able to help.

Personally I would have thought that a trust fund could be set up until the adopted sister was traced. The rest of the estate could then be distributed to the known legatees.
The easiest method of tracing the person would be for the solicitor to approach the Agency and/or Council through which the adoption was placed. The adoption will also be available in Court Records in the relevant area... but you would need to know at least approximate date to have any chance of checking using this method

If the sister is traced, then she would get the trust fund proceeds (the part of the inheritance put to one side). If deceased, and with no issue, then the fund would then be available for equal distribution to the other legatees...
Of course, this would depend on the relevant size of the legacy. If the legacy was small this of course would not be practical

But possibly this would be too straightforward for the Solicitor?
All the legatees need to ensure that any interest etc from the legacy is included in the distribution, too (ahem )

This may be relevant:

As a beneficiary, how can the distribution of an estate be changed?
A Deed of Variation can be entered into by some or all of the beneficiaries of an estate, whether under a Will or an intestacy, to provide for a re-direction of some or all estate assets, or their share of the estate. This can be used to reduce potential Inheritance Tax chargeable in the future, provided it is carried out within two years of the death, and also to create trusts or to cater for individuals for whom the main beneficiaries of the Will or intestacy feel that some provision should be made. Full advice on Deeds of Variation can be provided and the documents prepared.

which is from this site: http://www.mowbraywoodwards.co.uk/law_l ... estate.php
and so could this...:

Missing Beneficiary Indemnity Insurance
Sometimes, despite all efforts, some heirs or branches of a family simply cannot be traced or it is no longer economically viable to continue with research in an attempt to locate them. On other occasions all heirs may seemingly have been found, however, no-one can ever be certain that there was not an unrecorded event (such as illegitimate birth) that may affect the distribution of an Estate should these previously unknown persons come forward and make a claim against the Estate in the future. Specific insurance cover may be needed to cover against such claims possibly arising or simply as a 'comfort' when it otherwise appears that there is no prospect of a claim.

from here: http://www.findersuk.com/lawyers/missin ... rance.aspx

Hope this helps (and good link Col)

p.s. for further info try Interwebby search using "distribution of estate"...

[Frankie]

Personally I would have thought that a trust fund could be set up until the adopted sister was traced. The rest of the estate could then be distributed to the known legatees.

That was our initial thoughts Helen.

The easiest method of tracing the person would be for the solicitor to approach the Agency and/or Council through which the adoption was placed. The adoption will also be available in Court Records in the relevant area... but you would need to know at least approximate date to have any chance of checking using this method

But possibly this would be too straightforward for the Solicitor?
All the legatees need to ensure that any interest etc from the legacy is included in the distribution, too (ahem )

I agree with your cynicism.

This may be relevant: Quote:
As a beneficiary, how can the distribution of an estate be changed?
A Deed of Variation can be entered into by some or all of the beneficiaries of an estate, whether under a Will or an intestacy, to provide for a re-direction of some or all estate assets, or their share of the estate. This can be used to reduce potential Inheritance Tax chargeable in the future, provided it is carried out within two years of the death, and also to create trusts or to cater for individuals for whom the main beneficiaries of the Will or intestacy feel that some provision should be made. Full advice on Deeds of Variation can be provided and the documents prepared.
which is from this site: http://www.mowbraywoodwards.co.uk/law_l ... estate.php

I noticed the 'provided it is carried out within two years' section. Being a cynic, i wonder if that's why it has taken two years to get thus far without finding her.

Appreciate your help Helen (and Col).

[HelenPJ]

Being a cynic, i wonder if that's why it has taken two years to get thus far without finding her.

Good grief

I must admit, if it had been me, I wouldn't have waited for that length of time for the Solicitor to get his Finger out and sort out the estate. It does make me feel Cynical to the highest degree

Possibly time to contact the Law Society?
http://www.lawsociety.org.uk/home.law
"How to Complain about a Solicitor" here: http://www.lawsociety.org.uk/choosingan ... scheme.law

Complaints about solicitors

This information is on the Legal Complaints Service website

The Legal Complaints Service is an independent complaints handling body. It is part of the Law Society but operates independently.

The Law Society has delegated its complaints handling functions to us
charged us to exercise those functions independently and in the public interest
To complain about your solicitor, or find out how we can help

visit us at www.legalcomplaints.org.uk or call our helpline on 0845 608 6565
We are open Monday to Friday 8am to 6pm. Calls are charged at local rates.

[Gladiator]

A similar case some years ago aroused my interest as I was an adopted son that lost all trace of birth parents. There were 9 Sons/Daughters to benefit + me making 10. As it took them 3 years to find me the estate was equally divided between 10 and my own portion frozen in trust. The rest of the boys and girls received a share within 6 weeks of probate and I was very fortunate to get mine some 3 years later with interest; less fees of course. And yes, I sent it back to the family, it never seemed right or proper to keep it.

G

[Phil]

There are legal geneology services which seek to find missing beneficiaries. If they are unsuccesful then as a last resort Missing beneficiary insurance can be taken out which will pay the cost of the claim if somebody comes forward with a claim at a later date. The cost of these are allowable expenses for the purposes of the administration of an estate.

[Frankie]

Appreciate all your help on this subject...i'll try and let you know how my friend gets on with it.