Oct
26

Probate Detectives Chasing Unclaimed Fortunes – The Future For Heir Hunters

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Personal Finance Tips

For many, the role of an Heir Hunter is one of sitting in front of a computer tracking down lost beneficiaries to fortunes left by relatives who died without making a will and sharing in each fortune by way of commission.

TV programs which highlight the work of such people such as the BBC’s “Heir Hunters” program which has already run to three series does much to glamorise the profession which some see as seedy and reeking of doorstep salesmen.

The job of a Heir Hunter is to track down living blood relatives of the deceased – who died intestate, which as a consequence means their assets will go to the Crown after 12 years if not claimed by the deceased’s next of kin.

The next thing involved with opening Swiss bank accounts is the gargantuan amount of paperwork which invariably took some lengthy months to go through the processes of international banking procedures. All of which is just a complete and utter pain in the assets, if you ask me.

It really does come down to your opinion on how interest rates will be in the next few months through to, say, 3 years. Your guess is probably as good as ours!

For those of you with flexible mortgages where you can pay off debt, or park money in the current or deposit accounts, this should be your first port of call. If the rate you are paying is 3%, then this is equivalent to 5% for a higher rate tax payer.

Further, the fact that we can get things accomplished electronically, the waiting period for international processing of forms and applications has decreased from a few long months to a few short weeks.

Opening Swiss bank accounts has become much more possible due to the fact that most Swiss banks do not actually require a minimum deposit in order to open accounts with them. We don’t have to be one of the well heeled in order to have our monetary assets safe and secure in an offshore bank in Switzerland

Resource Author Francisco R. Higueras
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