"Your Insured Funds" NCUA brochure - North Island Credit Union

As in the previous illustraon, none of the coowners
has an interest of more than $250,000 in
all of the joint accounts, so the total amount held
by the each of the co-owners in all of the joint
accounts is insured.
($1,000,000 for all individual accounts plus
$1,000,000 for all joint accounts plus $1,500,000
for all revocable trust accounts)
C. REVOCABLE TRUST ACCOUNTS
This secon explains NCUA share insurance
coverage for revocable trust accounts, and is not
intended as estate planning advice or guidance.
Members should contact a legal or financial
advisor for assistance with estate planning.
A revocable trust account is a share account
owned by one or more people idenfying one
or more beneficiaries who will receive the funds
upon the death of the owner(s). An owner
of a revocable trust has discreon to change,
terminate, or revoke the trust at any me.
In this secon, the term ‘owner’ means the
grantor or selor of the revocable trust.
Although some unique circumstances can exist,
depending upon state law, in general when
calculang insurance coverage, trustees, cotrustees,
and successor trustees are not relevant.
They are administrators and have no impact
on insurance coverage unless they also are the
owners or beneficiaries of the trust.
For the purposes of share insurance coverage, the
revocable trust category includes both informal
and formal revocable trusts:
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