Q: I put a home I inherited in AZ in a trust. How should I insure the home so I don't invalidate the trust?
I am the owner of the trust. If I die I have others listed as trustees. I want to make sure I don't invalidate the trust.
A: I am answering the question under the following assumptions: (1) your house is properly titled to your trust, (2) your trust has been properly prepared to meet your wishes, and (3) you are the current trustee. If so, then insuring the house is fairly straight forward. Just be sure to contact your insurance company directly or through your agent/broker and let them know you own your house in trust. They will most likely add the trust as an additional insured. In other words, this might be less of a legal question, and more of a practical question for your insurance provider.
A: I recommend that you have an Arizona trust attorney review your trust and the deed used to transfer your Arizona home to your trust. If there are any defects in your documents that may cause a future problem you can correct them now. As for insuring the home, speak with your insurance agent. Your agent will be familiar with insuring properties owned by a trust and will provide you with an appropriate policy.
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