A beneficiary is an individual or organisation who has been named in a Will as receiving a benefit or gift from someone who has passed away. When a person takes the time to create a Will, their goal is to ensure that their loved ones are taken care of after they are gone and that they inherit any assets or items the deceased intended them to own. But what happens if a beneficiary named in a Will cannot be located and is deemed as missing? It's a complication that many people experience when trying to administer the estate of a loved one, and one that can greatly impact, and draw out a process that is already complex enough, causing additional stress. If you have been named as an Executor to a Will, the responsibility to search for missing beneficiaries ultimately falls to you. Therefore, if you do not take reasonable steps to search for a missing beneficiary, you could be personally liable to pay that beneficiary's share if they do come forward at a later date. We'll explore how and why heirs go missing, what happens if a beneficiary cannot be found, what happens if a beneficiary dies, how best to search for these individuals, and how missing beneficiaries can be avoided altogether.

One question that we frequently get asked is “What happens to a property when someone dies?”. Following a bereavement, there are a number of tasks that need to be considered and ensuring that a property is dealt with correctly is one of the many responsibilities involved in estate administration. Coming to terms with the death of a loved one is a difficult and emotional process; therefore, it’s important to understand what to do with the deceased’s property to avoid any further stress and anxiety.

When a loved one dies and they have a life insurance or assurance policy, that policy may pay out a very significant sum. It’s only natural to question whether the payout forms part of their estate, which may be subject to probate, Inheritance Tax, and other taxes.

When someone close to you dies and you’re dealing with the estate, it is easy to get overwhelmed when considering the upcoming tasks and the unfamiliar language associated with them. Firstly, it is important to understand the basics; this blog post aims to answer some of the most common questions associated with handling an individual’s estate after they have died, including:

For someone who has never dealt with a deceased person’s affairs, the legal jargon and complicated processes can be hard to digest; the tasks involved are unlikely to be previously encountered and come with a great deal of legal and financial responsibility. Unfortunately, this can make the difficult time of coming to terms with the death of a loved one even harder.

When coming to terms with the death of a loved one, the grieving period can be disrupted or worsened by issues with their Will, inheritance disputes, or other complications. These difficulties are often highlighted by high-profile probate and estate administration cases. This blog explores lessons that can be drawn from prominent celebrity deaths and the complexities that arose upon their passing.

Before the digital era, sentimental memories consisted of printed photographs, photo albums, postcards, scrapbooks, and certificates. Due to their tangible nature, these were easily retrievable by the loved ones of someone who had passed away. Fast-forward to today’s modern world where digital technology has become an integral part of our personal lives, people have now opted to store their sentimental memories online, for example, photos on social media and videos on cloud storage. Unfortunately, many do not consider what will happen to these digital assets upon death; accessing sentimental memories online can be a difficult task for loved ones to navigate without prior digital legacy planning.

By Jim Sisson, Chief Financial Officer at Tower Street Finance When people pass away, they leave behind all kinds of assets and heirlooms. Property is often among the most valuable assets and managing property is a key concern for those tasked with dealing with an estate.

As many aspects of our lives move to the digital world, it’s unsurprising that the task of dealing with a loved one’s digital assets when they pass away is becoming increasingly common. A digital asset that is frequently making the headlines due to its growing popularity is cryptocurrency. Due to cryptocurrency only recently emerging (in the first decade of the twenty-first century), many are still unaware of what cryptocurrency is and may simply overlook the stage of dealing with cryptoassets during estate administration.