Protecting your clients, and yourself.
In an ever changing Canadian population, the threat of legal challenges against estate executors, and against lawyers that counsel them, is growing. It is impossible to know which estates will present challenges during the process of estate administration. A new insurance product, ERAssure™ Executor Liability Insurance, offers an emerging best practice to deal with the increasing risk associated with estates and wills.
Do Process is happy to announce the integration of ERAssure within our estate administration product, Estate-a-Base™. ERAssure executor liability insurance covers the cost of defense and claims for damages that arise out of errors and omissions that occur during the settlement of the estate and inevitably mitigate risk for the lawyer overseeing the estate.
- If the executor does not have adequate resources or insurance to cover their liability, professional E&O coverage could be the next target for a claim from the beneficiaries.
- Failure to communicate to executor clients about their personal liability and the availability of executor insurance, could lead to them suing if they have an uninsured claim for damages.
The provision of good counsel to executors could soon be compared to the obligation real estate lawyers have to discuss Title Insurance with their clients.
In order to take advantage of this valuable feature, you must be using version 14.0d or higher of Estate-a-Base. You can access ERAssures services via the File/Open screen, the Parties Topic of any record, or in Tasks (you must click ADD on the bottom bar to access this feature).