- Required by courts before courts will grant confirmation on intestate estates
Suits: Executors of intestate estates who are using a firm of solicitors to handle the estate on their behalf.
An executry bond is required by the courts before the courts will grant confirmation on intestate estates. It does NOT protect the executor. The firm of solicitors needs to apply to us, we do not provide bonds on an executor's application. Please apply to our Glasgow office, RSA - 4th Floor, Alexander Bain House, 15 York Street, Glasgow G2 8LA
We need you to obtain a mandate from the executor to your firm; see standard mandate attached. Please can you send us a certified copy of it. You should keep the principal. Other circumstances may require variations in the mandate and we can send you those styles.
The bond does NOT protect or insure or indemnify the executor. It guarantees that the executor pays who he or she is legally obliged to pay from the estate i.e. legally entitled creditors and legally entitled beneficiaries. RSA will pursue the individual who is the executor for any payments we have made on his or her behalf. The bond is a guarantee to these creditors and beneficiaries.
Examples of where we have a particularly strong appetite, are actively targeting, and have been found to be at our most competitive.
- Estates <£2m