We’re going to put that on the big banks, which, ironically, on the Federal Reserve at that. The big banks went before Congress and were freaking out and they said, and they went to the Federal Reserve and said, we can’t afford this. We can’t compete. This shows how weak the entire system is. Now, when I read this again, it’s not gonna, it’s not gonna. A lot of people watching this video, it’s not gonna affect. And you’re like, oh, look at those rich people. But you have to understand, it’s not about that. Please understand. It’s about the full ability or the inability of the FDIC to be able to insure depositors.

Okay, so here we go. The FDIC change that leaves wealthy bank depositors with less protection. Affluent Americans may want to double check how much their bank deposits are protected by government backed insurance. New rules implemented last month capped what the Federal Deposit Insurance Corporation, or FDIC, will insure in a trust account at 1.25 million. It says before there was no limit on trust accounts. Now, how many of you have a trust account type? I have a trust account down below. Let me know, because I’m sure a lot of you have a trust account. It’s important to have a trust.

Why? Because it’s about tax planning to be able to save your children upon your death, all of the burdens of taxes and them possibly having to lose the assets you built up, whether it be your home. And right now, there are a lot of baby boomers with homes in excess worth of 125 million or 101.25 million because of what’s been going on in this market. And they own the house and they bought it a long time ago and they’re smart and they paid it off. And now if they have that in their trust, now that’s house, right? We’re talking about house values.

But there are a lot of people I know that have taken those homes and they’ve sold them, put the cash into their. I’m trying to give an idea of how many people have this kind of net worth. Right. There’s a difference between having your net worth in your home, where it’s. It’s just inequity. It’s not doing anything right. You can’t grab it, tap into it, because a lot of people can’t pay the insane interest rates on them. Right. The mortgage rates. But a lot of people have actually sold those, transfer them into bank accounts, and they have sizable bank accounts, and the bank account is held in the trust, just like the houses are.

Okay, so this isn’t out of the realm of normal for a lot of middle to upper middle class families that have these trusts worth this much. So it says before, there’s no limit on trust accounts, which are legal arrangements that ensure an individual’s assets are distributed to specific beneficiaries. The FDIC said the new rule will make it easier for consumers and bankers to understand deposit deposit insurance rules. It is also designed to help FDIC agents more quickly determine which accounts are insured after a bank fails. For tens of thousands of bank customers, that change could lower how much in those accounts are insured in their financial, if their financial institution fails.

Remember I told you that the FDIC, a while back, are making actually lighted signs? They’re making them bigger in banks. They want to make sure, because they know the system is collapsing right now. They know the bank system is completely failing. They want to make this so important for you to know, without a shadow of a doubt, you’re not going to be able to sue. You’re not going to be able to scream and yell. You could probably cry. But when you find out, and I come across subscribers all the time and say, I’m scared of what’s happening in bank failures, and I’ve got, like, $800,000 in one bank account, I’m like, then you’re the one that’s got the problem.

End of story. Split it up into multiple bank accounts. Into multiple banks. Like, boom. Like, what is going on here? The last bank failure that happened, I’m blanking on the name. Republic first or first public. They all have similar names, right? The FDIC came in and goes, hey, we’re taking it. We seized the bank. This was, like, two weeks ago. And they said, 20% of these accounts are not insurable, which means they didn’t get insured. You’re done. You lost. End of story. Bye bye. So this is a issue that you got to get under control right now, it’s one thing to listen to videos like this.

It’s another thing to actually do. I’m not giving you advice. This is just the rules. These are facts. So it says it’s somewhat of an obscure change. And the loss of some insured deposits is something I’m not sure the FDIC has highlighted. Enough said Ken Toolman, founder of Depositaccounts.com, which is owned by Lendingtree. He says, there may very well be a lot of depositors out there that might not have the insured deposits they assumed when they originally opened the account. And this trust account thing, I guarantee you, bank tellers are not telling their people when they see a trust account pop up and they’re saying, hey, just so you know, the FDIC is changing their rules or just change them.

They’re not going out there telling you. Or they may send it in a bank statement that you never read because the print is, like, this small. You’re like, I’m not reading that. Throw it away. Now was. Now what isn’t changing is that the FDIC still insures up to 250,000 per depositor and per account category at each bank. Here’s how that works. Say you have 250,000 in an individual savings account and $50,000 in an individual checking account at bank a. That means the depositors have 300,000 total in one type of ownership category, which is a single account at the same bank.

So only $250,000 of it is insured. See what I’m talking about? I have people coming up to me and going, I got 800 grand in one bank, and I’m scared. Okay, why don’t you. It’s called be prepared, not scared. Well, what’s part of being prepared when it comes to bank accounts? Well, 800 grand, that means you separate that into four different banks, and those accounts are insured by the FDIC. It’s. It’s that simple. But there are a lot of people out there not doing this. Whoo. Trust accounts here provided a loophole to insure more than 250,000.

Under the old FDIC rules, each beneficiary, beneficiary of the trust would get 250,000 in insurance protection. So, for example, if the trust named ten beneficiaries because the parents didn’t use birth control, there’s eight kids. Just saying, then that account would be insured for $2.5 million. Before this change, many people weren’t aware that you could theoretically insure almost an infinite amount at one bank through FDIC rules, through a trust account, Tillman said. That’s no longer the case. The new rules limit the number of trust beneficiaries that received the 250,000 insurance amount to five. So they needed to stop procreating, I guess, which was totaling at most 1.25 million.

Additionally, irrevocable trusts and revocable trusts are now lumped together into one ownership category, trust accounts. Under the new rules, that new category also includes any deposit account that has named beneficiaries upon the owner’s death, such as a certificate of deposit or a CD. So here’s the deal. It’s very simple. Split your money up. We’re not going to go into it any much more. The FDIC does not want to insure all this money because it doesn’t have the money to insure it. Please understand that. Don’t be a part of this crisis. Be prepared and not scared. Hope you have a great day.

Ninja is out..

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