Ethical Heir Searching: How We Find Missing Heirs a Better Way™

Estate planning and administration are inherently complex – and that complexity gets amplified when the process involves identifying and distributing assets to an estate’s heirs and beneficiaries. It requires meticulous attention to detail and a steadfast commitment to ethical principles to navigate with success.

Why? Maintaining high ethical standards ensures that all parties’ rights are upheld, ultimately allowing for an estate’s fair and lawful distribution. Ethical heir searches also tend to preserve more of the estate’s value for its rightful heirs vs. other often-criticized methods that can substantially impact the amount an estate’s heirs end up with after all is said and done.

In this article, we’ll explore the ethical considerations at play throughout an heir search and how HeirSearch’s Better Way upholds, promotes, and preserves these principles.

Ethics in Heir Searching: Doing the Right Thing

Locating unknown or missing heirs and beneficiaries involves investigating the personal histories of individuals who may be unaware of their lawful entitlements. The nature of these searches—including dealing with the estates of deceased individuals and being part of the process when it comes to the distribution of potentially substantial assets—highlights the need for a process built on strong ethics to foster client trust. Heir searchers are encouraged to follow the code of ethics from the Association of Professional Genealogists in order to maintain these ethical standards.

An important piece of context is understanding the search methods that some heir search firms called “heir hunters” employ, compared to those offered by non-percentage-based search service providers like HeirSearch:

• Heir hunters typically focus on locating heirs to estates where the deceased did not leave a will, often relying on public records such as the government’s ‘unclaimed estates list’ or probate court filings with intestate estates with unknown heirs. To complete this process, heir hunters conduct an heir search and seek to sign the heir to a contract that charges a percentage of the heir’s inheritance, with rates averaging around 20% and, in some cases, as high as 40%.
• In contrast, HeirSearch’s non-percentage-based fee structure means all costs are quoted in advance as determined by a set schedule and the search’s unique requirements – never as a percentage of the trust or estate and only conducted if authorized by the estate attorney. This model helps ensure that an estate’s rightful heirs receive much more of what they’re lawfully entitled to.

As you can see, percentage-based fees can substantially reduce the inheritance heirs receive and, depending on the estate’s value, blur ethical lines if the effort is disproportionate to the charges imposed.

Key Considerations for Ethical Heir Searches

This report is for informational purposes only and is intended only as a reference. HeirSearch does not endorse or recommend any of the products or services offered in the third-party articles or content contained within. We cannot guarantee the accuracy or effectiveness of the same and will not assume any liability related to the same. Additionally, nothing contained herein may be construed as legal advice. All offers are void where prohibited by law. Copyright © International Genealogical Search Inc. All rights reserved.