28th July 2020

Missing Beneficiary and Will Indemnity

By Oliver Barton
Divisional Director, Private Clients
Missing will
Missing Beneficiary Indemnity

As you know only too well, a missing beneficiary can cause delays in the probate process, leading to frustration, increased cost and an administrative burden at what is already a difficult time

Since the famous case of Evans v Westcombe (1999) - Missing Beneficiary Indemnity insurance remains the simplest and most cost-effective solution. A Missing Beneficiary Indemnity policy allows a full estate to be distributed, and if the missing person is ever found, the insurer would settle their entitlement under the terms of the policy.

While a missing beneficiary policy should only be used as a last resort, with every effort to trace the missing party having to be made first, the cover it provides is reassurance for the executor, administrator, trustee and known beneficiaries.

Missing Will Indemnity

According to a recent survey over 50% of the population do not have a Will. It is also common for Wills to be lost, or for various versions to exist, with the risk that a newer version is found once the estate has been distributed.

A Missing Will indemnity policy protects executors, administrators and personal representatives of a deceased’s estate in relation to claims from unknown beneficiaries.

Aston Lark can facilitate both Missing Beneficiary and Missing Will Indemnity policies – solutions that allow people to move on peacefully with their lives.

For further information, call us on 01206 771 266 or click here.