Claiming assets of a deceased person in Kenya involves a legal process handled by the Unclaimed Financial Assets Authority (UFAA). These assets may include bank deposits, shares, insurance benefits, or pension funds that were left unclaimed. To successfully claim them, a beneficiary must follow a structured process and submit the required documents.
What Are Unclaimed Financial Assets in Kenya?
Unclaimed Financial Assets (UFA) refer to funds or property that have remained inactive or abandoned for a specified period. According to the law, these assets include dormant bank accounts, unclaimed dividends, insurance payouts, pension benefits, and utility deposits. Once declared unclaimed, they are transferred to UFAA for safekeeping until claimed by the rightful owner or beneficiary.
Who Can Claim Assets of a Deceased Person?
A beneficiary claimant is any person who has a legal right to claim assets on behalf of a deceased individual. This includes family members, heirs, or legally appointed administrators of the estate. However, the claimant must prove their relationship and legal authority through official documentation before the claim is approved.
What Documents Are Required to Claim Deceased Assets?
To claim assets of a deceased person in Kenya, you must prepare several key documents.
Essential Documents for Beneficiary Claims
- Completed Beneficiary Claim Form (Form 4B) signed by a lawyer
- Completed Indemnity Agreement (Form 5)
- Original letter from the asset holder confirming transfer to UFAA
- Certified copy of National ID or passport
- KRA PIN certificate
- Death certificate of the deceased
- Certificate of Confirmation of Grant or Summary Administration
- Bank or M-Pesa statement for payment verification
Additional Requirements for Multiple Claimants
- Joint bank account statement, or
- Letter of no objection from other beneficiaries
These documents confirm your identity, legal authority, and entitlement to the assets.
What Is the Step-by-Step Process to Claim Assets?
The process of claiming assets follows a clear step-by-step procedure.
Step 1: Search for Unclaimed Assets
Start by checking if assets exist. You can search through the UFAA online portal or dial *361# using your ID number.
Step 2: Fill and Submit Claim Forms
Download or collect Form 4B, Form 5, and the Payment Details Form. Ensure all forms are correctly filled and signed before a Commissioner of Oaths.
Step 3: Attach Supporting Documents
Gather all required documents, including proof of identity, death certificate, and grant of administration.
Step 4: Submit the Application
Submit the completed forms and documents to UFAA offices for verification and processing.
How Long Does It Take to Receive the Assets?
Once a complete application is submitted, the process can take up to 90 days. UFAA reviews the claim within 60 days and, if approved, publishes a 30-day notice before releasing the funds. This ensures transparency and allows any objections to be raised.
Where Are UFAA Offices Located in Kenya?
The Unclaimed Financial Assets Authority offices are located in Westlands, Nairobi, at Pacis Centre along Waiyaki Way. Claimants must submit their applications physically or follow official submission guidelines provided by the authority.
What Should You Keep in Mind When Claiming Assets?
Always ensure your documents are complete and properly certified before submission. In addition, consider seeking legal assistance, especially if the estate involves multiple beneficiaries or complex ownership issues. This helps avoid delays and increases the chances of a successful claim.