Helping you distribute difficult estates
What is Executor & Inheritance Insurance?
- Insurance to help the distribution of an estate move forward, without the need to go to court, or reserve part or all of the estate
- Insurance protects Executors, Administrators and Beneficiaries in perpetuity and their Legal Advisors
- Compliments good legal services, not replaces them (cover can only be considered where a professional is involved in administering the estate). Generally used where a lawyer has done everything possible, but a problem still prevents the estate administration
Comprehensive Executor & Inheritance Policy
Used as precautionary “wrapper” cover where there are no specific concerns or issues but complete “peace of mind” is sought.
Policy covers claims/challenges for:
- Later dated will appear
- Missing Beneficiary stakes a claim
- Deceased lacked mental capacity
- Improper execution of the will
- Charitable gift is challenged
- Challenge to the will
- ID fraud for UK nationals
- Unknown tax liability
- Charity exerts a claim
- Unknown will is discovered after estate distributed on an intestacy basis
- New financial dependent appears and claims under 1975 Inheritance Act
- New debts arise after distribution
Range of covers: Specific Known Risks
Premiums
Set scales for “Precautionary policies” – i.e. No identifified “Specifific/Known Risk” and no underwriting concerns, for:
- Stand-alone Missing Will
- Stand-alone Missing Beneficiary
- Stand-alone Early Distribution under the Inheritance Act
- Comprehensive policies
Where “Specific/Known Risk”/Bespoke cover is required then individual pricing dependant on risk. We will give an early non-binding indicative premium (subject to underwriting) where we can to enable parties to decide whether they wish to proceed further with full underwriting.
What we need for underwriting
Completed simple application forms for risks involving: Missing Wills, Missing Beneficiaries, Inheritance Act/Early Distribution or Comprehensive cover.
For all other risks please contact us via the form below.
Claims
In the event of a proven claim policies cover:
- Award at court for proven claims
- Pre-court settlement where it is deemed the claimant has a strong case or may well be persuaded to settle without the need to go to court – this may be important on smaller estates
- Legal fees involved in the settlement
- Defence costs where defence is needed as well
N.B. These costs are in addition to and do not impact on sum assured.
N.B. No recourse to innocent Benefificiaries who may have inherited OR to their Legal Advisors.
What is not covered:
- Not a direct substitute for PI
- Countersigning missing share certificates
- Bonds and financial guarantees
- Estates where no professionals
(Lawyer, Accountant) are involved in the administration
Contact us today for more information or to discuss a specific enquiry
For more information on DUAL Asset's Executor & Inheritance products, or to discuss a specific enquiry, please fill the in the form below and a member of our team will be in touch shortly.