Everyone’s situation is different, and while some people have large, complex estates, others may have small estates or hardly anything at all. A common question is, ‘Will heir hunters deal with small estates?’ and the short answer is yes. Read on to find out more.
What is Classed as a Small Estate?
Small estates are officially estates worth less than £5,000 that rarely require probate. However, an estate worth under £20,000 may still be considered small. Although it may not seem beneficial for heir hunters to handle small estates, this is not always the case. Firstly, many estates turn out to be more valuable than initially thought. Secondly, all assets count. While estates that are worth 5,10, or 20k would not include property, they still contain assets that make up that value.
Is it Worth it?
If the deceased did not own property, they are likely to have assets amounting to small values. Going through probate fees and the process could mean very little is left for the beneficiaries or heir hunters once the estate has been dealt with. The fees associated with probate include the following:
- Will searches
- Grant applications
- Asset searches
- Death certificates
- Administration costs
While this may seem not worthwhile, many heir hunters, including Fleetwood Heir Hunters, will accept small estates. This is mainly because you never truly know what you will find and what may have gone unnoticed.
Hidden Worth
It is more common than you may think for estates to appear almost worthless but contain substantial worth after a bit of digging. You never know what’s under the surface; many people are unaware of potential high-value assets. Sometimes the deceased has hidden bank accounts with significant sums in them; others may have insurance policies worth £100,000 or more. Forgotten investments and pensions, quirky antiques, and vintage cars are also among the things that potentially crop up from seemingly small estates, boosting their worth considerably. Other examples are collections of items such as coins, stamps and rare toys/figures.
Conclusion
There is no way of knowing if someone has anything of worth stashed away without doing some expert digging. This is why it is always worth contacting a professional heir hunting company, even when dealing with a seemingly small estate. They will know where to look and what to look for. They will also see the value of things you may not even think are worth anything.
Contact Fleetwood Heir Hunters on 0208 9707486.