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Intestate in scotland - do i really need a bond of caution...?

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  • Intestate in scotland - do i really need a bond of caution...?

    My Father died a few years ago. I am his only close family member, apart from a couple of my cousins, and whilst I took care of everything in his estate, death certificate/cremation, banks, pensions etc... I haven't obtained Confirmation of his estate, which consists only of a small house. As I am both the Executor, and Beneficiary, to his estate (the house), do I still need to take out a Bond of Caution...?

    I've had a few quotes from lawyers to handle the confirmation, but the amounts they are quoting, for what amounts to not very much work, as everything has been taken care of, seems a bit much. As such, I intend to do this on my own (having put it off for several years now), and just wondered if it was possible to minimise outlay by foregoing the Bond of Caution, as it appears that I am, essentially, insuring myself against myself?
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  • #2
    A Bond of Caution is necessary for confirmation where the deceased is intestate. The only exception for a Bond of Caution is where the small estate procedure is being used, or where a spouse inherits the whole estate. Otherwise you cannot avoid - if intestate.

    There might be one cautioner that does not compel the use of a solicitor and allows DIY confirmation for estates up to £250k. Lawsure Insurance.

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    • #3
      I don't think you have a choice in the matter, they will tell you if it's necessary - In what circumstances is the Bond of Caution needed?

      There are no specific guidelines as to the circumstances in which a Bond will be requested by the local court. The requirement will be raised by the Sheriffdom on application for permission to administer the Estate. The bond limit will usually represent the gross value of the deceasedís Estate.

      Link for info only - https://www.lawsureinsurance.co.uk/o...tion-scotland/

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