Senior homeowners are often advised to put their ownership interests in their home into a Trust Acct. for tax purposes. What many are not advised of is whether their existing Title Insurance will cover the Title in the new account or should they have a insurance policy reissued. Realty Times has a good article about this issue. CLICK HERE to read the article.
Maintaining insurance on the high value items we own is an important process as is understanding what is cover and what is not. If you are considering a trust or have already transferred ownership to the trust, it would pay you to make sure you have an insurance policy to cover your interests.