Spiky Bugger
Well-Known Member
- Joined
- Jan 5, 2014
- Messages
- 6,214
Updating our Advance Directives today, talking to atty.
Me: I think I read that if you put your home in your trust (which we did), but are the only policyholders on homeowners ins (which we are), there’s a chance that our ins. co MIGHT TRY to not pay us if the house burns down because OUR house didn’t burn down. The house belonged to another entity, the trust, which didn’t carry insurance.
Atty: NOT LIKELY the ins co would prevail. But your best bet is to make sure you name your trust as an insured on the ins policy.
So, now, all of y’all can go worry.
You’re welcome.
Me: I think I read that if you put your home in your trust (which we did), but are the only policyholders on homeowners ins (which we are), there’s a chance that our ins. co MIGHT TRY to not pay us if the house burns down because OUR house didn’t burn down. The house belonged to another entity, the trust, which didn’t carry insurance.
Atty: NOT LIKELY the ins co would prevail. But your best bet is to make sure you name your trust as an insured on the ins policy.
So, now, all of y’all can go worry.
You’re welcome.
