Summary:

In this episode, our focus revolves around the complexities of managing vacant properties, particularly in the aftermath of a deceased individual. The vacant status of a property poses additional risks for both insurance companies and executors, necessitating careful consideration and proactive steps.

Our hosts delve into crucial aspects of dealing with insurance companies in such situations, emphasizing the importance of ensuring that the property has adequate coverage in the event of a loss.
 

Key points:

• Vacant properties pose a significant risk for insurance companies and executors.
• Insurance companies generally prefer insuring occupied properties, making vacant properties a red flag.
• Executors should inquire about the status of insurance policies immediately.
• Vacant properties may require a specific vacancy permit for continued insurance coverage.
• Implementing security measures, such as alarm systems and periodic property checks, is essential.
• Recognizing that a home often constitutes a significant part of the estate underscores the importance of diligent property management.

Hosts:
Jenna Carvalho
The smartest way to choose an executor.
Guardian Estate Company
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Gordon VanderLeek
Give your family a legacy of protection - Wills, Estates and Trusts.
VanderLeek Law
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