Legal Question in Wills and Trusts in California

When California PC Sec. 3413 (a) states an insured account in a financial institution, what exactly do they mean? Any account which is insured like FDIC or the account is gauranteed not to lose money? For the purpose of a "blocked account" what type of account are acceptable and which are not acceptable?


Asked on 3/24/11, 11:19 am

1 Answer from Attorneys
Anthony Roach Law Office of Anthony A. Roach

Insured by the FDIC. Keep in mind that the FDIC only insures up to a certain amount for that bank. If the amount to be deposited is more, you may have to split them into several accounts.

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Answered on 3/24/11, 12:08 pm


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