The quickest way to get Bond of Caution cover

Bonds of Caution, Executor Cover and the Family Tree Check

We offer you a simple and straightforward way to obtain everything you need to mitigate the risks and help you proceed to distribute the estate with confidence.

We have combined the best providers of Bonds of Caution, executor insurance and Genealogy services to provide a complete package. However, you can choose one or any combination of these products to provide the best solution that meets your clients’ needs.

Executor Cover and the Family Tree Check

FAQ

What is a bond of caution?

A Bond of Caution is a specific type of insurance policy which is designed to protect beneficiaries from any mistakes when distributing an estate in Scotland. It provides protection from a person obtaining Confirmation where they are not entitled to do so as well as protects against an executor failing to distribute the estate according to Scots Law. The Bond is a product for estates where there is no Will i.e. intestate estates.

When and why might someone need a Bond of Caution?

Technically a Bond of Caution may be needed for all intestate estates unless the entire estate will be inherited by a spouse or civil partner, or the estate value is less than £36,000. In this circumstance the executor of the estate will be appointed by court (this will also apply if the named executor resigns and is replaced by another).

Where the executor is appointed by court, obtaining a bond of caution is a legal requirement.

What if there are missing beneficiaries?

Bond of Caution doesn’t cover for missing beneficiaries, so genealogy services are required.

If a beneficiary comes forward after distribution, the insurer will pay out under the terms of the Bond of Caution, however there is a risk that the insurer will subsequently seek to recover, from the Executor, monies paid out under the Bond.

If Estate Research have checked the family tree and it is correct and/or located any missing beneficiaries then we will be able to provide you with a quote for Executor Cover (also known as a ‘Comfort Policy’). This protects the heirs and beneficiaries and even in many circumstances, the solicitors from any future possible claims.