The Coleman Law Firm, PLLC Attorneys and Counselors at Law 9250 Baymeadows Road, Suite 450 Jacksonville, Florida 32256 Phone: (904) 448-1969 Fax: (904) 448-5244 Toll Free: (888) 492-2468 Email: info@TheColemanLawFirm.net
10. How do I know how much deposit insurance coverage I have through the FDIC for certificates of deposit at my bank that are titled in the name of my trust?
The amount of deposit insurance coverage you have for the accounts titled to your trust depends on a number of factors. The rule for determining the amount of deposit insurance provided by the FDIC for a trust is that each "owner" of the trust receives up to $100,000 of deposit insurance coverage for each "qualified" "beneficiary," for a revocable trust, and $100,000 for each "beneficiary" of an irrevocable trust, subject to various restrictions and qualifications.