Beginning on April 1, 2024, new rules adopted by the Federal Deposit Insurance Corporation (“FDIC”) will go into effect for “Trust Accounts” which substantially increases the level of insurance coverage for many types of trust deposit accounts. In sum, the new rules provide that most trust owners will be insured up to $250,000 per eligible trust beneficiary, up to a maximum of five beneficiaries, for total insurance coverage of $1,250,000 per trust per insured bank.