[WSBARP] Insurance on Property In Trust

[Richard Holland]

Not a trust attorney by any means nor an insurance attorney - so basically my input is just about worthless - but logically couldn't the named insured assign the proceeds to the trust in some memorialized manner?


Thanks,

Rich Holland
rich at pnwle.com<mailto:rich at pnwle.com>
603 4th Avenue, Suite 100
Kirkland, WA 98033
877.785.8734  / 866.982.5080 (fax)

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From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Mark Vohr
Sent: Thursday, May 11, 2017 10:25 AM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Insurance on Property In Trust

Question:  We are trying to determine how to best obtain homeowners insurance for property in a trust.  We are being told the policy has to be issued in the name of a person.  The problem is that if there is a claim, the named person gets the payout - who is not the owner, which I can see as creating a problem for the trustee.

Any input would be greatly appreciated.

Mark


Ohana Fiduciary Corp.
Ohana Financial Services

Mark C. Vohr, J.D., CPG, Principal
PO Box 33710  Seattle, WA  98133
T:  (206) 782-1189 F:  (206) 782-1434
mcv at ohanafc.com<mailto:mcv at ohanafc.com>      www.ohanafc.com<http://www.ohanafc.com/>


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