Category: Trusts

Understanding FDIC Insurance for Payable on Death Accounts

As estate planning attorneys, we often remind clients that their estate plan isn’t done when they have signed their will or trust.  Just as important are the beneficiary designations of their assets. Recent events have prompted questions about beneficiary designations of bank accounts and their effect on the amount of FDIC insurance.  In this blog…

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FDIC Insurance and Trusts

The recent failure of a regional bank has once again focused the attention of many people on the limits of FDIC insurance.  Many investors in Silicon Valley Bank were very concerned that the could lose most of their deposits because those deposits exceeded the limits of FDIC insurance.  As of this writing in March 2023,…

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What Happens to Savings Bonds When the Owner Dies?

Savings bonds are low-risk investments considered safe and sometimes purchased as gifts or to save for the future. The U.S. Treasury Department issues them as a way to borrow money from the public. There are two types of bonds, Series EE and Series I. A Series EE earns a fixed rate of interest, while Series…

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