Keep Your Homeowners Insurance Current
Homeowners insurance is meant to protect against disasters ranging from fire to theft to lawsuits, encompassing most injuries and damage that members of your family might cause to other people. Most insurance carriers even count pets as members of your family.
How much insurance do you need? What would it take to rebuild your home? Here are some considerations to make sure your homeowners insurance is up to date:
The Complex World of Flood Insurance
The National Flood Insurance Program was created by Congress in 1968 to help property owners financially protect themselves. The program offers flood insurance to homeowners, renters and business owners if their community participates in it, and remains the main source of flood insurance in the United States.
Should You Put Your House in a Trust?
You may have heard of a living trust that's created while you are still alive. It can be set up as a revocable trust, permitting you to change the terms of the trust or to dissolve it entirely should circumstances change.
Such a trust can take the title to your home and transfer the control of the property to a trustee. When you die, the trust becomes an irrevocable trust, prohibiting future changes to the terms.
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