Financial swindles are making headlines more often these days. Even experienced investors can fall victim to scams that wipe out their savings. Take the Bernie Madoff case, for instance. Madoff’s massive Ponzi scheme ended with a guilty plea to numerous fraud charges after it was discovered that $65 billion in investments simply did not exist. … Read more
Three banks have collapsed in one week sending shockwaves through the banking industry. Many may wonder if their deposits are safe. Thankfully, the Federal Deposit Insurance Company insures deposits up to a certain amount and there are ways for individuals with deposits exceeding those amounts to gain coverage as well.
Although revocable trusts are the centerpiece for many estate plans, many clients are confused by what amount of their deposit accounts are insured by the Federal Deposit Insurance Company. To make the rules easier to apply, the Federal Deposit Insurance Company released new rules with a delayed effective date. These rules build on the current concepts while simplifying their application.