Only one in four of us have a will
Did you know that in the U.K. only four in ten people have a will? This means that many people who die intestate, will end up leaving some money to the Government or the Royal Family. This is known as intestacy, and genealogists are often employed where this is the case.
Intestacy is a tongue twister which means, the position of anyone who has died intestate - or, without a Will. Genealogists can establish any beneficiaries entitled to the assets or estate of anyone who has died without leaving a Will. In general, those beneficiaries are entitled to the share of an estate left by someone without a Will, as U.K. law upholds the rights of those with a blood relation to the deceased.
What is bona vacantia?
Often, these beneficiaries may not have met or been close to the relative in question. They also don’t realise what might happen to the estate if they aren’t found. This is where ‘Bona Vacantia’ comes in; it’s a Latin term for ‘vacant goods’ or ownerless property, and in England and Wales it gives the Treasury, and in some cases the Royal Family, the right to any unclaimed assets from an estate.
Understandably, there are cases in which beneficiaries may not want to accept an inheritance - they weren’t close to the deceased or feel that it is ‘wrong’ to accept money from someone they didn’t know very well, and may prefer that the money goes to charity. However, there isn’t a legal path to donating money to good causes unless the heirs accept their part of the succession. At this point, they can do what they like with the money; and most people would prefer to have this choice, rather than allow their money to go to the Treasury or the Crown.
Indeed, recent newspaper reports have highlighted this ancient legal statute, suggesting that although the Royal Family had pledged to give this money to charity, this hasn’t always been done. Controversy surrounds this legal quirk, constitutionally ratified in 1925, and no one seems to know how it came about other than an ancient law that came about as reparations, after Henry III quelled a revolt.
Whatever the reason, the fact remains that unclaimed estates don’t get given to good causes, but rather become ‘free inheritance tax’ for the Treasury or bonus income for King Charles.
At Grafton Genealogy, we can trace heirs both within the U.K. and internationally. Once we establish the order of entitlement to an estate, through our research, we will work to make contact and provide guidance to the heirs. As we have worked in the sector for years, we also have expert legal advisors who can advise the successors and ensure that any unclaimed assets from a case of intestacy, reach the right person.
In this way, when heirs are found, the Treasury and The Crown won’t have any legal claim to the estate, and this is upheld by U.K. law.
Don’t forget that to protect your wishes and your family’s future, it is important to make a valid Will where you state who you wish to inherit your estate.
