Revocable trust beneficiaries now qualify for $250,000 each in FDIC coverage
@ October 12, 2008 # No Comment Yet
The FDIC announced on October 10, 2008 that it was dropping a restriction on insuring beneficiaries of revocable trusts. Historically, each immediate family member beneficiary of the trust account was eligible for the $100,000 insurance payment. However, extended family members and non-family members were not eligible. The change in law makes every beneficiary eligible, and [...]