Quote:
Originally Posted by Craftylady
The account has to be I trust for a “qualifying “beneficiary. Each single acct $250,000 Each joint acct $125,000 for each acct holder. Owner plus qualifying beneficiary $250,000 more money than that use more than one bank
|
Note that you don't need to set up a formal trust. You can create an informal trust just by designating a "payable on death" beneficiary or multiple beneficiaries on the bank's signature card. A charity can be a beneficiary.