AML/ID requirements for Legatees/Beneficiaries

I am interested to know what other firms do with regards to identifying legatees/beneficiaries of an estate.

As a matter of course, we undertake bankruptcy searches, before any payments are made, but we do not undertake AML searches, as we are paying these individuals, rather than accepting funds from them.

Do other practitioners ask for identification of these individuals and do you undertake AML searches against them as well?

Many thanks.

Martyn Dixon
Harold Bell Infields & Co

1 Like

We ask for ID but that is only to verify their identity. We do not undertake ML searches, only bankruptcy searches.

Gemma Van Duke
Bishopsgate Law