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FDIC Federal Register Citations

Via e-mail

From: Steve DeWitt
Sent: Wednesday, August 13, 2003 3:01 PM
To: Comments

Subject: Proposal on Insuring Living Trust Accounts

August 13, 2003

Robert E. Feldman
Executive Secretary
Attn: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street, N.W.
Washington, DC 20429

Re: Proposal for Insured Living Trusts

Dear Mr. Feldman:

We appreciate that FDIC is seeking to simplify the method of insuring living trust accounts.

After reviewing the two options proposed, it becomes obvious that alternative #1 would keep living trust accounts with multiple qualifying beneficiaries in a community bank such as ours. If option #2 were used, existing living trust accounts would go elsewhere due to the $100,000 limitation. Therefore, we are in favor of alternative #1 because coverage is based on qualifying beneficiaries.

Thank you for allowing us the opportunity to comment on this important issue.


Steven DeWitt
Sr. Vice President and Cashier
The First State Bank of Burlingame
Burlingame, KS

Last Updated 08/14/2003

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