I am a beneficiary of a trust that has been set up after a death. Is that trust protected should the Bank or Trust company that is managing the trust, default?
To the extent that the assets of the trust are in the form of bank deposits, those deposits are undoubtedly covered by deposit insurance in combination with other fund you might have in the same bank, to the limits set by law and regulation. Assets of the trust invested in non-deposit products -- annuities, stocks and bonds, mutual funds, government securities, real estate, etc., are not insured deposits. They may or may not be covered by other forms of insurance. You should inquire of the bank or trust company that manages the trust about how the trust assets are protected.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
To the extent that the assets of the trust are in the form of bank 