What is the name of your state (only U.S. law)? CA
My wife and I have an A/B/QTIP trust, with the intent that our two grown sons would be the primary beneficiaries when we are both deceased. My specific question concerns FDIC coverage for accounts registered to the trust. Our sons are not directly named as beneficiaries in the trust. The specific language is: “The Trustee shall divide the Exempt and Non-Exempt Family Trusts, augmented as set forth above, into as many equal shares as there are children of the Trustors’ then living and deceased children of the Trustors leaving issue then surviving. One (1) such share shall be allocated to each then living child…”
So, the specific question is: do we have FDIC coverage equal to that which would occur if our two sons were named directly?What is the name of your state (only U.S. law)?
My wife and I have an A/B/QTIP trust, with the intent that our two grown sons would be the primary beneficiaries when we are both deceased. My specific question concerns FDIC coverage for accounts registered to the trust. Our sons are not directly named as beneficiaries in the trust. The specific language is: “The Trustee shall divide the Exempt and Non-Exempt Family Trusts, augmented as set forth above, into as many equal shares as there are children of the Trustors’ then living and deceased children of the Trustors leaving issue then surviving. One (1) such share shall be allocated to each then living child…”
So, the specific question is: do we have FDIC coverage equal to that which would occur if our two sons were named directly?What is the name of your state (only U.S. law)?