Q&A

Unclaimed Pension Funds...

Hi there, My dad died in 1995. I am one of 3 children, we were all under 16 at the time and as our parents were divorced, my grandparents "dealt" with my dads estates. The circumstances of his death meant that emotions were running extremely high, and the family ended up all falling out, with my sisters and I losing touch with our paternal grandparents for several years. We have since reinstated this contact however there has never been any discussion about money or anything that may have been left by my dad, or even about his possessions- which we didnt get any of either. As a result of my dads death, my mum ended up bankrupt and in real financial trouble so it has always been a sensitive issue that has never been raised. Howver last week my dads brother was contacted by a genealogist to say that there is £10,000 worth of unclaimed pension funds that "the Crown" has?! My older sister (would she be next of kin) is to go and see a lawyer to discuss taking this forward- I am just wondering if this is the right course of action. From my point of view we are his children, and therfore are entitled to this money without having to pay loads of legal fees etc. I am just looking for general advice really- is this a common thing to happen? Why did it take 15 years to be noticed? Are we entitled to this money? If so, does it automatically go to my sister as she is the eldest, or is it split between the 3 of us? Thanks for your help.