Description
The use of trusts is becoming the standard practice for individuals and households who hold any appreciable assets. The
principal attraction of trusts is that they allow property to be passed down to heirs or transferred to others more quickly and
at less cost than a will. Under a trust agreement, assets can pass immediately from the grantor (or donor or settlor) to the
beneficiaries without having to go through the cost and public disclosure of probate. This course is designed to provide
participants with an understanding of the insurance implications that exist for clients who have established a trust. Review
trust terminology, types of trusts, parties involved, and resultant property and liability loss exposures. Commercial and
personal lines coverage options will be examined, along with case examples regarding how each can address property and
liability needs.