Missing Will Insurance

Missing Will Insurance is an important cover for executors and personal representatives who can be liable if the estate is not distributed in line with the latest Will.

If a newer Will is found, which results in a claim against the estate, beneficiaries could also be made to repay some or all of their inheritance to redistribute the estate.

This can happen. Versions of a Will can be lost, misplaced, or stored in a location no one knows about, and new Wills can be created without the knowledge of family members.

Wills can be hard to trace as they can be stored anywhere. They can be stored in the following locations:

In the home;

• By other family members;

• By a solicitor, Will writer or other professional advisor; or

• By a bank

It is easy to imagine how a Will everyone believes is the latest version turns out not to be.

Now, imagine this Will was used as the basis of distributing the estate, but the new Will is found that is different.

The new Will may require the estate to be distributed differently. Or the new Will could includes different beneficiaries.

This would likely lead to a legal dispute over the previous Will and how the estate was distributed.

Without insurance, this would create a potentially significant liability for the executors, personal representatives, and beneficiaries.  They would have to fund any legal defence.  If the challenge is successful, they would have to repay the beneficiaries contained in the new Will.   

Missing Will Indemnity Insurance can be purchased in isolation or combined with a missing beneficiary insurance policy for greater protection.

If there aren’t funds in the estate to pay for the insurance protection upfront, you and the beneficiaries don’t need to worry.

Insuristic customers can fund the cost of any of our Probate Insurance Policies with our partner, FSL Finance.

The loan is simple to arrange, with 90% of applications being accepted immediately.

There are no arrangement fees or early repayment charges. 

Once a loan is approved, the money is paid to Insuristic to finance your insurance policies.  You will then need to pay FSL Finance a monthly amount until the loan is repaid.

If you need cover before the loan is repaid, we can help you.  Instructions on what to do in this scenario will be provided in your quotation.

You can find out more or start an application on our Probate Loans page.

A missing will indemnity insurance policy contains some clauses that you must comply with before you buy a policy. For example:

• The policy states that you must confirm all steps have been taken to locate a missing Will.  This includes:

  • an online search to locate registered Wills

  • A search at local Will writers, solicitors and safety deposit boxes

  • A search of the deceased's last known home(s), which could include a care home.

•  You will also need to confirm:

  • You have contacted all beneficiaries who are entitled to inherit from the estate. 

  • That any surviving spouse or children will benefit from the estate.

So before you request a Missing Will Insurance quote, you should appoint a professional to conduct a Will search. 

Please visit our Certainty Will Search page to find out more.

Missing Will Indemnity Insurance enables the executors or personal representatives to distribute the estate. It gives them peace of mind that should a new Will appear in the future they have financial protection.

If this happens, Missing Will Insurance would fund:

• The legal defence costs associated with the challenge to the Will

• Any other costs incurred by the insured with the prior consent of the insurer.

• The payment of damages and money owed to Beneficiaries if their legal challenge is successful.

If you are an executor or beneficiary of an estate, you should consider purchasing Missing Will Insurance. It is a relatively inexpensive way to protect yourself from financial liability and to ensure that the deceased person's wishes are carried out.

If you receive a claim on Missing Will Indemnity Insurance you must adhere to all the claims conditions listed in the policy.

Failure to do this could mean the insurer rejects your claim, or they could reduce the value the policy pays out if the breach of conditions increases the value of the loss.

You should ensure you read and understand all of the policy conditions listed in the policy.

Here are some pointers on what you should do in the event of a claim:

1. You should never tell a third party about the existence of this policy.

2. If there are circumstances that might cause a claim, you must tell the insurer in writing as soon as possible. You should also provide the insurer with as much information and documentation as you can.

3. Don't incur any costs relating to a claim without first consulting your insurer

4. Never admit liability or offer to pay or settle with someone else. You should refer the matter to your insurers claims team.

5. Pass all correspondence and requests for meetings to your insurer's claims team.

For full details of your claims conditions, you must read your policy wording or speak to the insurer's claims team for guidance.