Red Swiss
Probate Detectives Chasing Unclaimed Fortunes – The Future For Heir Hunters
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.
There has to be a way that all of this can be done much less complicatedly, and now, these days, there is. We don’t any longer need any go-between people to do any of what needs to be done for us, and in directly dealing with international banks online, the amount of paperwork needed has become wildly decreased.
If you are lucky enough to have a tracker that is as low as 1.5%, then the equivalent savings rate would be 2.5%. So, technically, it may well be that you are better off placing your money elsewhere, although you need to take into account the ‘hassle factor’ of moving money around on a regular basis.
As ever, whichever route you take, be careful to ensure that if these monies need to be accessible, that the account chosen allows you to do this. In addition, the government guarantee the first £50,000 of money per individual per institution, so be sensible here.
The Financial Tips Bottom Line
Having written this article, the rates mentioned will be out of date pretty soon, so make sure that you keep up to date and move your money if it pays to do so.
ACTION POINT
Work out what you typically save (and how often) to come up with a strategy for your savings.
If you have money invested in a deposit account, check what rate you are getting and compare it against what’s available in the market
Sigita Kin For more information about this issue please visit his sites about:
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