A trust is a legal arrangement where a trustee holds and manages assets on behalf of a beneficiary, typically to control asset distribution, minimize estate taxes, or protect assets from probate. Trusts are valuable tools in estate planning and can be revocable (changeable) or irrevocable (permanent).

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Notify Your Insurer If Your Home Is In A Trust

It may not seem like a big deal, but if your home is held in a trust and your insurance policy isn’t updated to reflect that, it could cause serious problems if you ever need to file a claim. If you’ve put your home into a trust or are planning to, reach out to your insurance agent.