Probate Risk Management

This section of our risk management resources is designed to provide guidance for the early stages after someone has passed away, when you have been appointed as the Executor (if there is a Will) or an Administrator (if there is no Will).

Whilst you may not feel like you have the headspace right now, even scan-reading can save you a headache further down the line.

Recommended Reading

Insuring Property

• Probate Property Insurance - our core cover page.
• Building insurance during probate - useful if you don't need to insure contents.
• Insuring an empty house after the owner has died - the steps to take when someone has sadly passed away.
• Understanding your liability when insuring property
• The Risks of Extending The Existing Insurance
• What Is The Risk Of Building Underinsurance In Probate?
• Protecting Probate Property - what insurers generally expect you to do.

An Introduction to Probate Risk Management & Legal Indemnity Insurance

• Download our free Probate Risk Management Checklist
• Read our Executor Insurance and Risk Management Guide

1. Whether there is a Will or not, you should always check for the existence of another with a Will Search from the National Will Register to ensure you are moving forward with the correct version - or to verify if the Estate definitely is intestate (if there are no known Wills).   
2. Order a Deceased Credit Report to check for all known Liabilities.
3. Order an Asset Search to find bank accounts, pensions, imvestments and shares that the deceased may have held.

If the Estate is Intestate, you should consider appointing a Probate Genealogist to advise you on the intestacy risk and to identify any beneficiary risks.

Where there is a Will, consider:

1. Early Distribution Insurance
2. Section 27 Insurance
3. Missing Will Insurance

Read this article to find out more: What Insurance Should I Consider For a Testate Estate?

Where there is no known Will or an existing Will is ambiguous:

• Add Missing Beneficiary Insurance to the list of considerations.
• Read our article - What Insurance Should I Consider For an Intestate Estate?  

If you run into issues, find the probate process too much, or there are disgruntled stakeholders such as beneficiaries, excluded beneficiaries or other executors or administrators, it might be time to call in the professionals and protect your liability:

• Find a Probate Solicitor – for help with checking your work, Grant Applications, or Full Estate Administrations.
• Contentious Probate – if anyone who is a stakeholder or has been excluded is unhappy, you should be very careful and seek immediate professional help.  You can get a free contentious probate consultation by following the link to our page.