Another free service for the Public Sector is our Missing Asset Search which enables a thorough search of around 95% of all UK asset sources to be made quickly and easily.
Please note this search can only be made when a person is deceased.
If the Deceased was thought to be someone who held bank accounts, shares or saving s that have not been identified, this service is invaluable.
Overseas Asset repatriation can also be arranged through our specialist team, please contact us if you require this.
The search draws together all the resources that can currently be checked for unclaimed assets and will help find funds that may have been overlooked or deposited in accounts that have been forgotten, including searches of:
- Pension providers and the Department of Work and Pensions
- Over 200 financial institutions
- UK Shareholdings – over 15 million records
Where approrpriate we can also conduct asset searches throughout the USA & Australia.
Risk Management & Compliance – why our missing asset search is so important
Probate practitioners should be aware of the potential consequences of failing to identify all financial assets during an Estate administration, please note:
Administrators or Executors failing to comply with the Inheritance Tax (IHT) penalty regime risk having to pay penalties and additional tax and firms advising them could face claims for negligence.
It is vital that practitioners properly inform Administrators or Executors on asset identification and of the potential consequences of inaccurate IHT returns.
Most searches are completed within 28 days, but this is a target delivery time only and cannot be guaranteed as we are reliant on third parties.