Why Wealthy Families Bank in a Trust (The FDIC $1.25 Million Rule)

Wealthy families keep their savings in a trust instead of their own name. The reason is an FDIC rule most people have never heard of. In your name alone, with no beneficiaries named, your savings are insured up to $250,000 per bank. In a living trust with five beneficiaries named, it's up to $1,250,000 per owner at that same bank. A married couple can reach $2.5 million. Same bank. Same money. Look at the name at the top of your statement tonight. Let me know your questions in the comments below. #wealth #LivingTrust #EstatePlanning #FDIC #Arizona #Retirement