Is this Indemnity Letter ok for an Executor?

[AndyOrch]

Yes its a standard clause for the first party to protect you as a second claimant against costs.....however why you need to be part of this claim or side with a party as executor Im unsure ?

 

It is worth considering executors insurance, which is a form of indemnity insurance very similar to the type of professional liability insurance held by a solicitor. Executors insurance can protect you against any legal or financial claims that result from your actions and the cost of insurance can often be reclaimed from the estate as part of your expenses.

 

Andy

[AndyOrch]

It really shouldnt be your concern as Executor of the estate and none beneficiary ...your main priority duty is valuing and disbursing property to the beneficiaries as designated in the will.

 

There are 3 executors...correct ?

Two are beneficiaries and your not ?

Are you related to these two?

Are they the only two beneficiaries ?

 

Have you got a true value of the property ?

 

Is there any further monies involved as to why they cant agree ?

[AndyOrch]

So this solicitor that has issued the indemnity form to yourself is acting for the awkward brother ? I assume there is a court claim in progress ?

 

Why not get a third valuation and meet in the middle ?

[AndyOrch]

Ah I see so this an attempt to settle probate and finalise the estate.

 

The underlining problem here is too many Executors and both being beneficiaries .....Wills that appoint co-executors often provide a backup plan to resolve anticipated stalemates between the executors. If the will provisions allow for a tie-breaking vote, the co-executors can obtain that vote from a third party. The will may or may not identify the specific person entitled to cast the tie-breaking vote. However, if a will does not expressly allow for the use of a third party in this manner, the co-executors cannot use this as a solution.

 

Sometimes the only way for co-executors to work together is through coercive action in court. Probate judges have the legal authority to resolve disputes between co-executors. The judge will typically hold a hearing at which both executors have the opportunity to present their arguments. Afterwards, the judge will issue an order in flavor of one of the executors and both executors must comply with that judicial order.

 

Its not unusual but rare but I understand why you are now party as per my paragraph above.