Missing Steve Fossett was never found, but he’s been declared dead

We first reported the breaking news of aviation adventurer Steve Fossett going missing last year on September 4th, the last news we heard was on November 27th, when Steve Fossett’s wife asked a court to declare him dead legally although his body has never been found.

Well today Times Online are reporting that his wife Peggy got what she wanted and Steve Fossett has now been declared dead by Judge Jeffrey Malak, in Cook County Circuit Court, Illinois.
Steve Fossett was 63 years old when he went missing in a single engine aircraft, the search for him ended after a month-long search and rescue mission. To this day no trace of the plane or Fossett has been found.

Do you think its right to declare someone dead even if their body has not been found?