£54m worth of estates still unclaimed in region
MORE than £54m worth of unclaimed estates is waiting to be collected by unsuspecting North East families.
There are more than 300 unclaimed estates in our region, with 60 based in Newcastle.
These have come about from people passing away in the area without a known next of kin or valid will. Anyone with a legitimate relation to the deceased can claim the wealth.
Analysis of data listed by the Government was carried out by law firm BLM, which believes the numbers show a growing problem with “will apathy” in the UK.
When a UK resident dies without leaving a will, they are classed as dying “intestate” without a next of kin. Any assets and wealth are then listed as unclaimed, eventually going to the Crown.
As of last Monday, more than 8,800 estates remained listed on the Gov.UK website - including those of citizens who died abroad.
James Beresford, the firm’s wills and estate planning legal expert, said: “It’s incredible that we place such importance on owning property and to be prepared for savings and pensions, but are apathetic when it comes to estate planning.
“This research emphasises how many people are wholly unprepared when it comes to ensuring that their loved ones benefit from their estates.
“Whatever assets might classify as your estate, whether property, possessions or wealth, it is important that you clearly set how these assets should be handled and protected after you pass away, to legally protect your family adequately.
“At what is always a highly tumultuous time, wills can put your families’ minds at ease and avoid lengthy, costly legal battles. Furthermore, it means your children or dependents are left in the best care.”
“When it comes to the question of why we seem reluctant to prepare a will. There are a number of reasons.
“Many people don’t openly discuss the matter; we like to think we are invincible, we might think it could take too much time to prepare, but, more importantly, people don’t know, or have the wrong ideas about, what will happen if they don’t make a will.”
“Yet, as our analysis reveals, the general public is largely unaware of the risks loved ones are left open to if a will is not created. Failure to prepare instructions before your passing can leave your family unprotected, and their future unsure.”
Estates unclaimed in Newcastle (as of last Monday) include: David Lewins Armstrong, George Bland, Robert Bailes, Harry Clark, Ian Clark, Raymond Clark, George Craig - Benton, James William Davidson, Lyndsey Davison, John Donnelly, Sarah Donnison, Michael Dumphey, Barbara English, John Fiedolak, Anne Fraser - Fenham, Patrick Freeman, Robert Gibson, David Gillespie, Margaret Bridget Graham, Wladyslaw Gumula’ Joseph Donald Haley’ Edith Harding - Gosforth’ Frederick Harrison, Robert Henderson, Ronald Horne, Michael Hurley, Ayree Jackson, William James Jackson, John Allan Jones, John Kennedy, Stephen Christopher King, Vincenty Kwiatkowski, Gerald Larson, Mary Logan, John Lumsden, Colin Stuart Mcdonald, Ann Malby, Thomas McColloch, Stuart McPherson, Michael Mulligan, Norah Murray, Michael O’Carroll, Duncan Robertson, Frederick Robinson, Agnes Isabella Robison, Margaret Scott, Christine Simpson, Alexander Smith, Thomas Smith, Walter Smith, Elsie Sparrow, Margaret Stephens, Linda Storey, Mary Swan, William Thompson, Philip Haddon Wade, Michael Ward, Nicholas John Waters, Peter Wilson, Robert Wilson.