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In addition, your IRA funds on deposit at Tustin Community Bank will now be separately insured up to $250,000.00 by the FDIC.
See the FDIC Consumer News Special bulletin about the new higher deposit insurance coverage for retirement accounts.
EXAMPLE
A husband, wife and two children may have insured accounts totaling $1,400,000.
Individual Accounts: |
Husband |
$100,000 |
Wife |
$100,000 |
Child #1 |
$100,000 |
Child #2 |
$100,000 |
Joint Accounts: |
Husband and Wife |
$100,000 |
Husband and Child (#1) |
$100,000 |
Wife and Child (#2) |
$100,000 |
Child #1 & Child #2 |
$100,000 |
Revocable Trust Accounts: |
Husband as Trustee for Wife |
$100,000 |
Husband as Trustee for Child #1 |
$100,000 |
Husband as Trustee for Child #2 |
$100,000 |
Wife as Trustee for Husband |
$100,000 |
Wife as Trustee for Child #1 |
$100,000 |
Wife as Trustee for Child #2 |
$100,000 |
TOTAL |
$1,400,000 |
The same grouping of insured deposits can be arranged for a grandfather,
grandmother and two grandchildren, instead of a husband, wife and
two children. Our Sales and Service Representatives will gladly explain
how you can increase your insurance protection through multiple ownership
of accounts. For a review of your accounts, contact
us.
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