A leading law firm has urged householders to leave a will after new figures revealed that more than 15,000 estates dating back as far as the 70s have yet to be claimed.
The wealth, property and possessions of 15,176 deceased are poised to pass to the government because the owners made no legal plans or have no obvious next of kin or family.
Anyone who dies in Scotland without a will or any traceable relatives has their financial affairs handled by the Office of Queen’s and Lord Treasurer’s Remembrancer (QLTR).
If living relatives can be traced the money will go to them but if no one can be found the money goes straight to the state.
Law firm Aberdein Considine says premium bonds, dormant bank accounts, National Savings and Investments and pensions worth billions currently lie untouched.
The unclaimed assets of deceased Scots currently totals £3million.
Many of these people died alone in care homes with no family to survive them.
Senior partner Iain Considine said: “The Treasury and QLTR handle around 2,500 of these cases annually by advertising the estate and making inquiries to locate beneficiaries.
“If no blood relatives come forward then the estate passes to the Crown.
“However, a simple will would have spared all the red tape and mystery around these estates and made sure the money went to the people who deserve it.
“It is normally a very simple and quick procedure to have a lawyer prepare a will for you – and it is not expensive.
“We also say to clients that even if they have no close or deserving family, they may wish to consider leaving the funds to charity rather than letting it default to government.”
The deadline for relatives coming forward is generally limited to ten years from the date of death or two years from when the estate is advertised by the QLTR office.
The Treasury banked more than £14million in unclaimed inheritances last year alone.
Mr Considine said getting married, having children or grandchildren and getting divorced were some of the key life events where people should consider where their estate will go.
People can search the unclaimed estates list on the UK Government’s website.