By Jeff Roth
With all of the national concerns, even protection of our funds in a nationally insured banking institution can be at issue. Several years ago the government increased the amount of coverage from $100,000.00 to $250,000.00 per depositor, per insured bank, for each account ownership category. The government devised a very complicated formula to determine exactly how much would be protected. It combines the entire depositor’s like accounts in the calculation. Protection is granted based on ownership and stated beneficiaries.