The result is that most trust accounts, whether revocable or irrevocable, are limited to $250,000 per FDIC insured bank. Under the new rules, irrevocable and irrevocable trusts are treated the ...

How FDIC coverage of trust accounts has changed Under the new rules, trust deposits are now limited to $1.25 million in FDIC coverage per trust owner per insured depository institution.

Trust accounts must be reconciled on a regular basis—check the rules of your specific jurisdiction—in order to ensure accuracy and detect errors or unauthorized activity.

However, the rules surrounding trust accounts can be nebulous at times because they vary state by state, which is why trust accounting can be such a malpractice risk.

There are special coverage rules for revocable trust accounts that could increase the amount of coverage.

We’ve all heard the old adage, “trust takes years to build, seconds to break, and forever to repair,” right? Well when it comes to winning and retaining clients in the legal world, that ...

Accounting Rules for Escrow Accounts Held by a Bank. Escrow accounts represent accounts where money is held in trust until a transaction is completed. For example, a landlord might create an ...

Joint bank accounts can be convenient for managing your household finances, but they require a lot of trust—and also tend to complicate the rules on taxes, inheritance, and separation. Find out what ...