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Executor insurance

What is executor insurance?  

Anyone advising executors of an estate, responsible for carrying out the last wishes of a friend or family member, may be exposing themselves personally or through their practice to unlimited liability.

Even a simple estate can have hidden problems and the law regulating the administration of estates can be complex. This can leave advisors and executor vulnerable to legal action and claims by beneficiaries, estate creditors, probate, and tax officials.

Executor Liability insurance from LFC can protect both lay and professional advisors.

Why should I buy executor insurance?

The responsibility of the Executor includes making sure that all necessary insurance policies are in force whilst the estate is being finalized. This protects any of the assets in the event of a loss which reduces the value of the asset. If the executor has not arranged Executors Liability Insurance he could be personally liable for any innocent mistake he makes in handling the estate.If as a professional advisor they have relied on your advice and you have not told them about the executors liability policy then you could face a possible PI claim.

As the premium can be deducted from the estate it would seem that the Professional Advisors and executors have nothing to lose and everything to gain.

Our executor insurance

  •   Underwritten with a leading A rated Insurers
  •   Bespoke wording
  •   £1,000,000 cover, higher limits available
  •   Claims and legal advice helplines
  •   Plain English wording