🔥 Does Your Insurance Cover your Home in a Trust 🔥
The California wildfires highlighted a major requirement overlooked by Trustees --
If your property is in a Trust, but your insurance policy doesn’t reflect it, your claim could be denied!
Why This Matters: When you transfer your home into a Trust, the trustee becomes the legal owner. But if your insurance policy still lists only your personal name, your coverage might not apply when you need it most.
How to Make Sure You're Protected:
📌 Update Your Policy – Let your insurer know your home is in a Trust and ensure the Trust is listed as an additional insured party.
📌 Double-Check Coverage – Review your policy to confirm the right parties are named.
📌 Make Necessary Adjustments – Both the Trust and trustee(s) should be included in the policy.
📌 Stay Ahead of Changes – Laws and policies evolve, so regular check ins can save you from unexpected issues.
The best time to fix a coverage gap is before disaster strikes. A quick review now could prevent major headaches later!
McKean & Knaupp Attorneys, LLC
503-846-0707
Mckeanknaupp.com
The California wildfires highlighted a major requirement overlooked by Trustees --
If your property is in a Trust, but your insurance policy doesn’t reflect it, your claim could be denied!
Why This Matters: When you transfer your home into a Trust, the trustee becomes the legal owner. But if your insurance policy still lists only your personal name, your coverage might not apply when you need it most.
How to Make Sure You're Protected:
📌 Update Your Policy – Let your insurer know your home is in a Trust and ensure the Trust is listed as an additional insured party.
📌 Double-Check Coverage – Review your policy to confirm the right parties are named.
📌 Make Necessary Adjustments – Both the Trust and trustee(s) should be included in the policy.
📌 Stay Ahead of Changes – Laws and policies evolve, so regular check ins can save you from unexpected issues.
The best time to fix a coverage gap is before disaster strikes. A quick review now could prevent major headaches later!
McKean & Knaupp Attorneys, LLC
503-846-0707
Mckeanknaupp.com