Guarantee bonds
Small Estates Indemnity
This is usually requested in the case of assets of up to £20,000.00 value where a Grant of Administration has not been sought. Commonly the estate is a simple one and the sole surviving beneficiary is a close relation.
The Indemnity is in favour of the Bank/Building Society/Financial Institution against any claims/losses arising from the transfer of the assets (shares/ISA/money).
Information Required to quote:
- Name & address of Enquirer
- Name of the Deceased
- Value of assets
Quotation Subject to submission of:
- Copy of the death certificate
- A cheque, (made payable to Norwich Union Insurance Ltd), for the premium
- Original letter of Indemnity issued by the financial institution
- Documentation from the financial institution indicating the value of assets, (number of shares, ISA units, money)
- Small Estates Declaration form, (this will have been supplied by the Financial Institution)/Statutory Declaration (relationship to deceased, unaware of anyone who is/ is likely to contest the transfer).
- Documentary evidence that the Proposer has lived at their current address for more than 12 months, (e.g. a copy of a utility bill)
- Documentary evidence of the Proposer's identity, (e.g. a copy of the photograph page of a current passport/picture driving licence)
