Estate Planning


The Federal Deposit Insurance Corp. (FDIC) in January changed its insurance rules for deposits held in connection with a living trust ( www.fdic.gov/deposit/deposits/deposit/index.html ). Under the new provisions, if a bank fails, the FDIC will insure up to $100,000 of deposits for each beneficiary entitled to a living trust’s assets upon the account holder’s death. Qualifying beneficiaries include only the account owner’s spouse, children, grandchildren, parents and siblings. The revised rules, which were to take effect April 1, eliminate a prior requirement that the depository institution’s records contain the names of trust beneficiaries. They also provide for immediate payment of the full amount of FDIC coverage available to beneficiaries, regardless of any limitations stipulated in the trust document.

SPONSORED REPORT

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QUIZ

8 sentences to help you master subject-verb agreement

When professionals prepare written material for readers inside their organization or outside, they should make sure that no errors distract from the message they need to convey. Take this short quiz for practice in subject-verb agreement.