Handling the estate of someone who has passed away can be a daunting task. Depending on the beneficiaries, there can be many people to attend to, and making sure those people get their fair share of inheritance is top priority. So, if you were the executor of an estate, what would you do if the inheritance of one of your beneficiaries was lost in the mail?
UPS Loses a $700,000 Inheritance, What Did They Do Next?
A woman in Canada had to deal with this very ordeal. When her father died she was declared executor of his estate and was tasked with the distribution of her father’s estate to all of his children, her siblings. She did just that and decided that bank drafts would be the most secure way to distribute the funds.
Bank drafts are similar to checks, except they are guaranteed by the bank rather than by the check holder who issued them. After getting these drafts together and sending them to the family attorney, each draft was sent via UPS to the siblings, but one of the drafts didn’t make it.
The brother in question asked for his draft to be delivered to his business, but the draft for approximately $664,850 never arrived. After contacting UPS, the shipper claimed that there was nothing they could do other than giving the family a $32 refund. The woman turned to the bank that issued the draft, TD Canada, to see if they could remedy the situation. The bank said it could only issue a refund if the woman promised to pay for the previous draft herself if the draft was ever cashed. It wanted the woman’s house as security against the draft’s cashing.
After ten months of back and forth, the woman decided to go to the media with what was happening. After Canadian news outlet CBC News ran with the story, TD Canada reconsidered needing the woman to sign over her house as security against the old draft’s cashing. The situation was handled soon after and now all beneficiaries of this estate have been tended. UPS apologized and said that though its services are excellent, it does still make mistakes.
Probate can be a difficult undertaking no matter what country you are operating in. Here in the U.S. having an attorney onboard can help handle the unforeseen complications that can arise down the line. Be ready, and ask for help when the estate of a passed loved one needs to be distributed.