FDIC New Rules for Revocable Living Trust Account

"On January 13, 2004, the FDIC adopted new rules for insurance coverage of living trust accounts. The new rules, which are effective on April 1, 2004, are summarized below. ...
 
... The owner of a living trust account would be insured up to $100,000 per beneficiary if all of the following requirements are met: a) The beneficiary must be the owners spouse, child, grandchild, parent or sibling. Stepparents and stepchildren, adopted children and similar relationships also qualify. In-laws, cousins, nieces and nephews, friends, and charitable organizations do not qualify. b) The beneficiary must become entitled to his or her interest in the trust when the owner dies ..."

Living Trust Offers: How to Make Sure They're Trust-worthy

"You've worked hard for your money, and made every attempt to be a conscientious saver. So it's only natural that you want some control over what happens to your assets in the event of your death. At the very least, you probably want to minimize or avoid potential hassles and headaches for your loved ones. A trust is a legal arrangement where one person (the "grantor") gives control of his property to a trust ...
 
... Estate planning deals with what happens to your assets after you die. Even if you are a person of modest means, you have an estate and several strategies to choose from to make sure that your assets are distributed as you wish and in a timely way. The right strategies depend on your individual circumstances. That is, what is best for your neighbor might not make the most sense for you. ..."

Why register my Living Trust

"When you create a living trust your records are kept confidential until you register. Most states do not require a settlor to register a living trust unless a real estate is involved in the trust and you need to transfer a deed of realty to trust. ...
 
... Around the country there are local probate courts that require the trustee to register. But there is no enforcement of these rules and no penalties or consequences. So it remains up to you, what you want to do. The court has no power over the administration of the trust ..."

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