Whose afraid of the big bad Heir Hunter?

by Maurice S Clarke

If you end up being contacted by an aptly named "Heir Hunter" who tells you that you are in line for a share of a fortune, left by a blood relative, your first thought is usually of suspicion and fear of being ripped off.

Regardless of the method of approach, usually by telephone, letter or by personal calling the first few minutes are vital to ensure you at least listen to the Heir Hunter before banging down the phone with a non-polite "not today thank you."

Regardless of your mode of rebuff Heir Hunters are persistence little fellows, it's after all part of their nature. It's likely that they only found you by detailed research and dedication and here you are slamming the door in their faces and ripping up a letter from them announcing a windfall. Sounds a sensible move on your part!!

Whilst the profession is not regulated most Heir Hunters follow professional standards, belonging to appropriate organisations such as the Heir Hunters-Association which promote good practices.

Being a Heir Hunter carries some risk and is highly competitive as beneficiaries they locate are expected to pay a "finders fee" usually a commission of the value of the estate left by their, often unknown relative.

Even if you get to the point of signing up with a Heir Hunter there are no guarantees as to how much you will inherit, or when you will get paid. Large complex estates could take years to tie up, although most are settled in a few months. Plus you may share a little with a lot, or bag an entire massive fortune. One estate of £2 million still remains unclaimed.

There is little to fear from Heir Hunters, as they are after all bringing good news. Maybe it's best not to sign with the first one to locate you, there may be others following, so give it a few weeks and collect "offers" before deciding which one to accept.

Consider negotiating terms, and remember even if you do not sign, you may get a pay out later, but there is a danger you may remain "unknown", as there is no guarantee other Heir Hunters have found you, and submit a successful claim. Estates may be closed off and you excluded, however it is normal for the final administrators to INSURE in case a beneficiary later emerges with a valid claim against the estate. One late claim could collect the entire estate, even though others may have shared it initially.

Clearly signing with a Heir Hunter has little to loose and a lot to gain, you may however be in for a shock - finding you have frittered away a small inheritance by the terms of your deal with a Heir Hunter, or become the sole beneficiary to an estate worth hundreds of thousands secured by a fair and reasonable Heir Hunter contract.

Maurice Clarke is founder of the www.heirhunters-association.org.uk

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Copyright © 2009 - 2010  Maurice S Clarke and heirhunters-association.org.uk

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