Financial Asset & Liability Search

Helping you find all of the Deceased's assets and liabilities in one easy step

One of your duties when administering an estate is to locate all of the Deceased's assets, which may include known, unclaimed, or lost assets. You must gather accurate information on the Deceased's estate. This could include contacting all relevant financial institutions to gather the necessary information on the Deceased’s assets, which can be an incredibly time-consuming task, and it can be difficult to know where to start. That's why we've teamed up with Inheritance Data to offer Financial Asset and Liability Searches for just £185 (+VAT). 

Search 200 financial institutions and 350+ databases

The online asset-searching engine looks at 200 financial institutions and more than 350 databases, including:

Mitigate against the risk of missed debts or liabilities

A credits and liabilities search is also included to help identify estate accounts, mitigate against the risk of debts or liabilities, and assess potential insolvency before you apply for the Grant of Probate. 

The search is quick, concise, and easy to understand. The report will include information on:

• Open and closed current accounts, credit cards, hire purchases, personal contract purchases (PCP), mortgage and equity release loans, personal and secured loans, payday loans, and utility accounts

• Previous names, aliases, and addresses, as well as financially connected persons

• Bankruptcy, County Court Judgements (CCJs), and Individual Voluntary Arrangements (IVAs)

Provides peace of mind

The thorough search will provide you with in-depth and reliable information about the Deceased's assets, maximising the value of the estate. You'll also be reducing the risk of a loss to the estate and protecting yourself and your client from future claims against the estate.

If an additional asset is subsequently discovered, you'll be able to demonstrate that efforts to locate the assets were undertaken and show that the financial institution failed to disclose the asset. This will also negate the risk of an Inheritance Tax issue with HMRC. 

Reduce your administration time

It can take a significant amount of time and effort to write to all relevant financial institutions. Our Financial Asset and Liability Search service working with Inheritance Data contacts the financial institutions on the Executor's behalf. It requests a full search of their databases for any accounts whether they may be active, dormant, or lost. This service is provided for a fixed fee of £185 (+VAT).

Over 90% of Financial Asset Searches uncover an account or policy

The number of unclaimed assets is increasing year-on-year and it is predicted that UK financial institutions hold over £200 billion in dormant accounts. Between 2011 and 2017, financial institutions have returned more than £65.7 million as a result of asset searches.

It's incredibly easy for an individual to forget about or lose track of an account or policy. Many factors make keeping on top of assets challenging, including job changes and companies that grow, merge, change their names, and cease trading. That's why it's crucial to search for assets and ensure all are accounted for in the estate administration process.