Monan Gozzett LLP is an established law firm that specialises in providing a unique service in False Allegations and other defence work, Dispute Resolution, Wills and Probate and Family matters, including serious fraud and regulatory cases. Monan Gozzett LLP works with clients across the UK and has offices in Sussex, London (Chancery Lane), Surrey, Hampshire and York.
Going the extra mile
Stephen Sampson, Head of Private Client, based in Monan Gozzett’s Arundel office explains: “Our team always goes the extra mile for our clients. We aim to support our client’s interests and those of the wider family whatever it takes, offering an expert service that is both robust and personal.
“We have been working with Estatesearch in identifying assets and liabilities in probate cases since March 2022. Estatesearch’s Financial Profile search ensures we have done everything we can to identify assets within an estate and all angles are covered. It offers us and our client’s comfort at a difficult time.”
Comprehensive and detailed
Estatesearch’s Financial Profile Search provides a comprehensive and detailed report to support an efficient fact-finding process, helping solicitors quickly build a better understanding of client’s financial affairs to manage or administer an estate effectively. Information and data from a variety of sources helps to demonstrate a clear audit trail of all reasonable steps undertaken. The search includes AML, Credit & Liability Search, Financial Asset Search, Company Directorships, and, in the Financial Profile Premium, an Unclaimed Asset Search which includes up to 40 additional pension and insurance providers to help locate forgotten accounts, policies, and shareholdings. All subjects are automatically enrolled with the Vulnerability Registration Service to prevent fraud and financial abuse against the estate too.
A crucial role in helping Executors understand the full extent of the estate
“I had originally come across Estatesearch at a previous firm and was impressed. Therefore, when we were approached by the Executors of a landlord who had suddenly passed away, we advised the Executors to conduct a Financial Profile Search through Estatesearch. The deceased had managed his property portfolio and other assets through an email account that could not be accessed after his death, so Estatesearch’s financial asset report played a crucial role in helping the Executors understand the full extent of the estate, ensuring that no assets or liabilities were overlooked.
“Estatesearch’s Report uncovered numerous assets and considerable liabilities including utilities on properties and a life insurance policy that the Executors and his family were unaware of. The search also uncovered accounts with currency exchange companies, details of companies he directed and notified us of CCJs against the client. Without this information, the estate administration could have taken a significantly longer time and it would have been quite possible assets and/or liabilities could have been missed.
Peace of mind when identifying assets and liabilities
“The Financial Asset Report gave the Executors peace of mind that not only had they uncovered all assets in the estate, but also that they had taken every step possible to reduce personal liability against themselves from unknown creditors. This matter raised the importance of not only making sure that when administering an estate assets and liabilities are thoroughly searched for; but also that taking steps during your lifetime to plan your digital estate can reduce additional strain on loved ones when you pass away.
“We now use Estatesearch’s Financial Profile as a matter of course in all full administration cases. Even where we are not executors, we advise instructing the report simply because no one can be expected to understand all the financial aspects of someone else’s life.
“In a recent case, the Financial Profile search uncovered a trustee account set up for a vulnerable individual containing around £2,000. There would have been no way of knowing about this without the Report.”
“Extremely easy to use”
Estatesearch’s Financial Profile search is accessed through the company’s secure portal. Stephen Sampson describes this as: “Extremely easy to use.” The firm also uses the portal to place statutory notices. He says: “it’s helpful to have everything in one place. We get notifications when a financial institution responds and so it’s easy to keep up to date and this saves time.
“For us, working with our clients is not just a process or a transaction, we always have their best interests at heart. This is why we now recommend Estatesearch’s Financial Profile search on every probate case. It offers a best practice approach, enabling us to demonstrate due diligence but most importantly, it offers complete peace of mind for our clients.”
Originally published in Today’s Wills and Probate – 8th August 2023