One very common concern and question during times of economic hardship, like the recession many believe we are now entering due to the Coronavirus, is “Is my money safe in the bank?”.
Asset protection attorney Ike Devji provides the basics in a recent article for Physicians Practice. Among the basics covered:
- What is FDIC Insurance?
- What happens if a bank fails?
- What is the FDIC Insurance Limit?
- What kinds of accounts are FDIC insured?
- What if my accounts are owned by my Revocable Living Trust?
- What about my safety deposit box?