What is the name of your state (only U.S. law)? Louisiana
The informtion on FDIC.gov is that an individual's bank savings account balance over $100,000.00 may be insured if that balance is labeled "POD" account, or other identifying terms, with qualified beneficiaries identified on the signature card. Louisianians are not entitled to do that. What Louisiana law or policy barricades Louisianians from this simple entitlement? To protect such excess savings, Louisianians must move money to another bank, or, to allow the deposit to remain, must safeguard it by forming a Totten trust, in writing, which, in turn, requires a lawyer, or a good set of forms, or a notary, or all three.
What Louisiana law should be changed to line Louisiana up with the rest of the United States?What is the name of your state (only U.S. law)?
The informtion on FDIC.gov is that an individual's bank savings account balance over $100,000.00 may be insured if that balance is labeled "POD" account, or other identifying terms, with qualified beneficiaries identified on the signature card. Louisianians are not entitled to do that. What Louisiana law or policy barricades Louisianians from this simple entitlement? To protect such excess savings, Louisianians must move money to another bank, or, to allow the deposit to remain, must safeguard it by forming a Totten trust, in writing, which, in turn, requires a lawyer, or a good set of forms, or a notary, or all three.
What Louisiana law should be changed to line Louisiana up with the rest of the United States?What is the name of your state (only U.S. law)?