Last month I completed my legacy drawer and the last items I was waiting for were the updated deeds to my primary home and rental property. I received the last deed in the mail a couple days ago and for some reason I decided to contact my insurance agent to find out if it mattered or not that both homes have now been placed in my living trust.
Come to find out it did. Since the homes are underneath my trust, the insurance company stated that the trust has to be named as "additional insured" They stated this just shows who owns the home and if there ever is a claim against the properties, the check would be made out to the owner(which is now my trust). Since I'm the trustee of my trust, I shouldn't have any problems cashing any checks that are provided.
I just wanted to pass along this bit of info to say make sure you check with your insurance agents if you have property in a trust.
Financial Tidbits: I finally got paid for 2 ebay items that sold over the weekend. That netted $17.50. I have two items set to close on Sunday and 1 already has a bid with 6 watchers. I also got paid $3 from Pinecone
March Snowflakes:$56.47
Follow-up to Legacy Drawer Completion
March 14th, 2013 at 09:33 pm
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