Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Sunday, September 10, 2023

FDIC Changes Insurance Coverage of Trust Bank Accounts

Estate planningAlmost every funded trust has one or more bank accounts, most of which are insured by the FDIC. The FDIC has issued new regulations effective April 1, 2024, changing how bank accounts held in the name of a trust will be insured. It will treat both revocable and irrevocable trusts the same for determining the limits on insurance. Such accounts may be insured up to $1.25 million rather than the current $250,000 limit on many individual accounts.

For more information see Matthew F. Erskine “FDIC Changes Insurance Coverage of Trust Bank Accounts” WealthManagement.com, August 21, 2023.

Special thanks to Deborah Matthews (Virginia Estate Planning Attorney) for bringing this article to my attention.


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I am happy to see you enjoyed the article. I am a fourth generation Trusts and Estates attorney but in Massachusetts not Virginia.

Posted by: Matthew F. Erskine | Sep 11, 2023 12:48:59 PM

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