The executor of an estate may know all, little or nothing about the financial affairs of the deceased. Since launching Estatesearch, practitioners have shared stories of their endeavours, from sifting through carrier bags of bank statements to requiring police support to force entry into property to obtain financial records.
Every practitioner will have their own stories and cases which stand out and demonstrate how difficult accurately valuing an estate can often be. The prevalent risk to practitioners and their clients is the liability associated with missed or unknown creditors, who have recourse against executors or beneficiaries.
In strategic partnership with the largest UK credit reference agency, Experian and Estatesearch have developed a unique digital service to support estate administrators make quick and informed decisions.
Harnessing Experian credit data EstateSearch are able to provide practitioners with a detailed overview of debts and liabilities associated with an estate within 48 hours. Estatesearch provides added client value by offering a robust risk transfer policy to protect both the executor and beneficiaries in perpetuity.
Alastair Luff Director of Products, Consumer Information Services, UK & Ireland at Experian commented “The new Estatesearch™ Credit & Liabilities Report is powered by our Experian ExPin, providing exceptional data match rates which ensure faster decision for consumers. ExPin ensures you won’t have to work with fragmented or siloed data, improving decisions and creating a better experience for you and your customers”.
Ben Furlong at Estatesearch commented “Our digital economy creates challenges as practitioners adapt to the new way we store and manage our financial affairs, but it also offers opportunities. Our objective is to leverage our data knowledge and technology expertise to deliver practical professional solutions, to create value for clients and support them during a difficult time in their lives.”
This article was submitted to be published by Estatesearch as part of their advertising agreement with the Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.
