Probate - indemnity for shares


I am assisting with a probate where another solicitor (not a private client solicitor) has taken letters of administration for the UK part of a deceased’s estate who was Japanese domiciled.

Share certificates for a large value shareholding have been lost and the usual indemnity is being asked from the administrator.

The administrator is refusing to provide the indemnity because she thinks it’s too much of a risk for her.

Given that she has taken up office and has a duty to administer the estate I would have thought she has to provide the indemnity but perhaps can request an indemnity from the beneficiaries or take out some sort of insurance if she has real concerns?

Any thoughts? The only other alternative I can think of is to go through the long winded route of getting her to renounce (if that is even possible at this stage).

Allard Bailey Family Law

It is not unusual for the PR to insure against a claim on the indemnity. This is more relevant if the beneficiaries are in a different jurisdiction as any indemnities they give could cost more to enforce than the PR might recover.

I am not sure which insurers might be best, but perhaps enquiries of the likes of Title Research and Fraser & Fraser might be appropriate as I understand they often arrange such insurance for their clients.

Paul Saunders FCIB TEP

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