Executor Liability Insurance
At Palladium Insurance, we offer Executor Liability Insurance to safeguard executors during probate.
Guiding a client through their role as executor or administrator of a will and estate is a complex task and it’s important for your client to be protected against contentious circumstances which can often arise. Protecting your client against the expenses and legal costs of defending a legal claim against the estate requires a detailed and effective insurance policy – and that’s what our Executor Liability Insurance policy offers.
What our policy covers
Our Executor Liability Insurance policy ensures that should a claim be brought against the Estate that your client’s legal costs will be insured (subject to the policy Terms and Conditions).
Our policy includes cover for the following claims against the Estate:
– A challenge to the validity of the will by a third party
– A legal claim for financial provision under the Inheritance (Provision for Family and Dependants) Act 1975
– A charity exerts a claim after the estate is distributed
– A charitable legacy is challenged by someone not named in the will
– A legal claim made under the principles of propriety estoppel
– A legal claim made via constructive trust
Why is Insurance important in wills and estates cases?
A survey of 2,000 people, commissioned by Direct Line Life Insurance, found that a quarter of UK adults were willing to challenge a relative’s will in court if they disagreed with the division of the estate. Executing a will can be a demanding and complex task and, inevitably, where family inheritance is at stake, the likelihood of disputes arising is substantial.
If legal proceedings are raised against the Estate, your client will be named as defendant. Defending a legal claim against the estate can incur extensive legal costs, often thousands of pounds. Wills and Probate Insurance, such as our Executor Liability Insurance policy, protects your client should the circumstances arise.
For more details contact us email info@palladiuminsurance.gg or complete the enquiry form on our contact page.
