Can You Put Your Insurance Policies In Your Trust

A common issue that arises is dealing with insurance companies over the names on insurance policies. Technically, insurance should held in the name of the owners of a property.   

In the case of a trust, the legal owner on the title of a property is the trustee/s (while the beneficial owner is the beneficiaries). Clients tend to say “ the owner is the trust”, for example the “Smith Family Trust”. Assuming the trustees are Mary & John Smith and an independent trustee called XYZ Trustee Limited, the better description is “Mary Smith, John Smith and XYZ Trustees Limited as…

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