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How much fdic coverage for revocable livintg trust bank account with two trustees and two beneiciarys?
Wiki User
∙ 15y ago
Each trustee is insured upto $100,000. Each qualified beneficiary (The beneficiaries must be qualified beneficiaries meaning that this beneficiary is your spouse, child, or grandchild.) is insured upto $100,000 per relationship to the trustee. In this scenario, assuming the bennie is qualified, each beneficiary is insured $200,000 because each bennie has a relationship with each trustee. [2(1 Qualified Bennie x 2 Trustees = 2)] = 4. 4x$100,000=$400,000. $400,000 + (2 Trustees x $100,000) = $600,000.00 So, overall for this account, anything over $600,000 in the account will be uninsured.
Wiki User
∙ 15y ago
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