Alert for homeowners with trusts

If you own a home and have a trust, it’s become clear after the LA Fires and other recent events that it’s now critical to add your trust as an “additional insured” on your homeowners’ insurance policy.

How important this is varies by insurance carrier, but with some it is critical and this is definitely a “better safe than sorry” situation.

And most carriers make it easy and quick to do.

Contact your insurance agent today and ask them to add your trust as an additional insured. You can send them your Certification of Trust (COT), which provides key details about your trust (and doesn’t share the parts that are none of their business). Or use that same COT to fill out their form, if required.

While you’re there, this is a great time to make sure any assets managed by your insurance carrier (such as life insurance, bank accounts, or investment accounts) are updated to list your trust as owner or beneficiary, as appropriate. (See your Funding Instructions for more details.)

Feel free to send this to your friends!  It could make all the difference in a catastrophic situation.