There are millions of pounds going to waste because people don’t make wills are you entitled to any?

HOMES and valuables left by 15,000 people could be seized by the Government because their owners didn’t make a will.

The Sunday Post can reveal estates including homes, dormant bank accounts, pensions and even Premium Bonds dating back as far as 1978, are yet to be claimed.

Much of the haul, worth billions of pounds, will go into Westminster and Scottish Government coffers because people failed to make a will and no living relatives have ever been traced.

In Scotland alone, more than 400 unclaimed assets worth £3 million are set to roll into the Scottish Government’s accounts, while the UK Government receives around £14m a year from unclaimed estates south of the Border.

Iain Considine, who is a senior partner with law firm Aberdein Considine, which uncovered the figures, said: “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, rather than letting it default to the government.”

In Scotland five estates worth more than £40,000 are sitting unclaimed. The biggest of them is the £298,000 left by Gina Parenti, originally from Borgo Val di Taro, Parma, Italy, but who lived in Copland Place, Glasgow, before her death in 2013 aged 82.

Another big unclaimed estate belonged to Elizabeth Robertson, of Crewe Road North, Edinburgh, who died aged 70 in 2008, leaving assets of more than £50,000.

The assets left unclaimed across the UK also include tens of millions of pounds worth of life insurance, dividends, tax rebates, shares and windfalls.

The amount of time relatives have to claim an estate varies across the UK, but in Scotland it is generally limited to 10 years from the date of death, or two years after the estate is advertised by the Office of Queen’s and Lord Treasurer’s Remembrancer.

Derek Barton, 68, of the National Pensioners Convention, said: “It is really important that people of all ages sort out their will so the Government doesn’t get it because they do get an awful lot of money out of it, and why should they?”

Meanwhile, experts are also warning that in an age when family break-ups are common, people who have made a will must ensure it remains relevant.

Mr Considine added: “As divorce and second marriages aren’t uncommon, it is important to make sure that your will accurately reflects your wishes and protects your loved ones accordingly.

“Having new additions to your family will be an exciting time, but it also means that you should look at reviewing your will.”

A Scottish Government spokesman said: “We would urge everyone to consider making a will to ensure their estates can be properly passed on to their next of kin.”

Did you know Gina Parenti or Elizabeth Robertson? Or can help trace their relatives? If so, email brobinson@sundaypost.com