Security of Funds

The Federal Deposit Insurance Corporation (FDIC) insures up to $250,000 per depositor  until December 31, 2013.  After this date, FDIC deposit insurance will revert to the $100,000 per depositor level in place before the financial downturn.

The FDIC insurance is per depositor, not per account.  For an attorney trust account, that means that the $250,000 applies to each client with funds in a trust account, not to the trust account as a whole.  However, if a client has other personal funds on deposit in the bank in insured accounts, the $250,000 limit applies to the combination of the client's personal and trust account deposits.   

The FDIC information may be accessed at www.fdic.gov