Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
FDIC Insurance for Bank Accounts in the Name of a Revocable Trust
Old 09-18-2020, 03:05 PM   #1
Thinks s/he gets paid by the post
 
Join Date: Jan 2013
Posts: 2,574
FDIC Insurance for Bank Accounts in the Name of a Revocable Trust

Reading the information at the FDIC website, it appears funds in an account in the name of a revocable living trust with an individual as trustee are counted separately from funds in the same individual's personal account for insurance purposes. Am I reading this correctly? As long as the amount in each ownership is $250,000 or less, both accounts are fully insured, right?
Another Reader is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-18-2020, 05:34 PM   #2
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 4,129
https://edie.fdic.gov/calculator.html

You should use edie to check this out. Does the trust have living folks for beneficiaries? Does the owner's personal account have POD beneficiaries?
One of the surprises to me was that if the trust has a couple of beneficiaries
and the individual account has POD two beneficiaries, the FDIC insurance is less than if the individual account does not have POD beneficiaries.
kaneohe is offline   Reply With Quote
Old 09-18-2020, 06:21 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Jan 2013
Posts: 2,574
Quote:
Originally Posted by kaneohe View Post
https://edie.fdic.gov/calculator.html

You should use edie to check this out. Does the trust have living folks for beneficiaries? Does the owner's personal account have POD beneficiaries?
One of the surprises to me was that if the trust has a couple of beneficiaries
and the individual account has POD two beneficiaries, the FDIC insurance is less than if the individual account does not have POD beneficiaries.
Thanks! I'm the current beneficiary, but I put the estate as the beneficiary to make the tool work. I will have to look at that more carefully.
Another Reader is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Making a will and living revocable trust 2035 Other topics 10 07-30-2012 05:59 PM
Revocable Trust Rob FIRE and Money 2 02-18-2012 10:01 PM
Found this forum via Google search re "revocable trust" bookworm1711 Hi, I am... 10 01-28-2008 09:48 PM
Revocable living trust. Does One Need It? MJ Other topics 13 03-15-2005 07:57 PM
Yet another revocable living trust question. Nords Other topics 14 11-30-2004 02:45 PM

» Quick Links

 
All times are GMT -6. The time now is 03:47 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.