How do you keep more than 100K in a bank and be FDIC insured? - qualified beneficiary fdic
I believe that only beneficiaries are eligible spouses, children, grandchildren, parents or grandparents and have to have a joint account, not only as a receiver or "Trust
Sunday, February 7, 2010
Qualified Beneficiary Fdic How Do You Keep More Than 100K In A Bank And Be FDIC Insured?
4 comments:
I have discussed this before. Here's the skinny.
Account # 1 John Doe
In Jane Doe # 2
Account # 3 John Doe and Jane Doe roommate or a family trust
In Doe, Jane Doe, girl # 4 Joint
In John Doe # 5's son DOE Joint
IRA Account # 6 University Girls Doe
IRA Account # 7 Son Doe University
Get the idea.
Each account has what is called "PLATING unique" and therefore everyone has FDIC coverage separately.
They separated in mind that may have IRAs, and from the bowl to different, like access to:
- John Doe IRA
- Jane Doe IRA.
Investment IRA may also be in one of the FDIC and SIPC coverage in order to be what is contained in them.
The following types of accounts are drawn into the same account (same bank) according to the rules of the FDIC considered:
Account # 8 John Doe w / balance of $ 50,000
In John Doe # W 9 Balance $ 25,000
Account # 10 John Doe w / balance of $ 100,000
Among the foreign direct investmentC standards, Account No. 's 8, 9, 10 have combined the same "shell" and would, if the bank would be seized by the FDIC. Only a maximum of $ 100,000, combined # 8,9,10 these accounts are covered.
The alternative is to do:
ABC Bank and Trust
Account # 11 Doe, John Balance $ 100,000
Spar-DEF
Account # 12 Doe, John Balance $ 100,000
Nutty bank loans
Account # 13 Doe, John Balance $ 100,000
In this class, for example, about the 3 banks are not counted, together with FDIC insurance, because 3 banks independent and unrelated.
If you were subject to several branches of the same bank balances in combination silver as examples # 8, 9, 10
The course is completed.
:)
You can use different account numbers
or the use of another bank, but never 100,000.00 for each account
The limit of FDIC insurance in his name spread across several accounts.
Better use more than one bank in case of failure, because the process of the FDIC ready when it happened.
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