Even when you’ve carried out the right searches and taken a careful approach, there is always a small element of uncertainty when dealing with wills.
They’re not held in one central place. A will might be sitting with a previous solicitor, kept at home, or simply unknown to those involved in the estate. It’s also possible for a later will or codicil to exist without anyone realising.
In most cases, everything is exactly as expected. But if a more recent will is discovered later on, it can change things quite quickly.
The estate may need to be redistributed. Beneficiaries could be asked to return funds that have already been paid out. And personal representatives can find themselves exposed to claims, even where they have acted properly and in good faith.
That’s why this risk is difficult to remove entirely. It can be reduced through thorough searches and due diligence but not fully eliminated.
Missing Will Insurance is there to manage that final piece of uncertainty. It allows you to move forward with the administration and distribution of the estate, knowing that if something unexpected does arise later, the financial impact is covered.
- Covers the risk of a later or unknown will being identified
- Reduces exposure to claims that could alter the distribution
- Allows personal representatives to continue with greater certainty
