Early Distribution Insurance by Aviva

What is Early Distribution Insurance?

Early Distribution Insurance (sometimes referred to as “No Section 27 Notice” or “Inheritance Act” Insurance) provides cover to personal representatives by removing the need to wait for the expiry of claim periods and can help enable early payments to beneficiaries.

During the estate administration, executors and administrators can place statutory advertisements for claimants and creditors to lodge their interest as a method to mitigate their potential personal liability. This would typically involve placing an advert in the London Gazette and local newspapers in line with Section 27 of the Trustee Act 1925.

It is possible for certain people to make a claim against the estate for reasonable financial provision under the Inheritance (Provision for Family and Dependants) Act 1975. For example, if they consider they have not been suitably provided for, or if they’ve been excluded altogether from the Deceased’s estate.

Such claim periods can cause delays to the beneficiaries who must wait for these to lapse before receiving their payments.

Finders International is pleased to be able to offer Early Distribution Insurance via Aviva, the leading general insurance company in the UK.

Why seek Early Distribution Insurance?

Legal practitioners often have to balance their responsibilities to the PR to ensure they meet their legal obligations against the wants of the beneficiaries to the estate. Understandably and correctly hesitant to distribute funds before claim periods have elapsed, solicitors must field regular queries from frustrated heirs who want to receive their inheritance because they anticipate no such claims will be made.

Aviva’s Early Distribution Insurance provides a solution to this situation by protecting personal representatives and beneficiaries alike against future claims and allows for a safer distribution of funds to entitled parties.

How do you get Early Distribution Insurance?

It is a prerequisite for Early Distribution Insurance that no Section 27 notice has been placed, or will be placed in the future. Cover is available to personal representatives who have identified the heirs to the estate and have received confirmation from beneficiaries that they have no information on any financial dependents or potential creditors.

We would always recommend professional personal representatives take a cautious and prudent approach to family testimony and seek full verification of the Deceased’s next of kin prior to distribution. Our range of estate administration based insurance products via Aviva offer PRs reassurance to guard against the unknown.

If you require our assistance in either tracing missing/unknown heirs or verifying a family tree, please contact us for further information

Cost of Early Distribution Insurance

Policies for Early Distribution Insurance start from £120 plus IPT as a stand-alone policy, with reduced rates when obtained alongside our other insurance options: Missing Beneficiary Insurance, Missing Heir Comfort Policy or Missing Will Insurance.

If you have a case in mind, please complete the form below and we will contact you with the availability and cost of the cover.

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