The FDIC has issued final regulations that, on April 1, 2024, changed how bank accounts held in the name of a trust will be insured. Now, both revocable and irrevocable trust accounts will be eligible for FDIC insurance up to $1.25M, which covers up to 5 beneficiaries at $250,000 each. For revocable trusts, grantors can also be included to meet the $1.25M limit.  Before this change, there was no limit on the number of beneficiaries that could be covered under an irrevocable trust account.

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