Banks and Banking - Insurance of Bank Deposits by the Federal.pdfVIP

Marquette Law R eview Volume 32 Article 5 Issue 2 September 1948 Banks and Banking - Insurance of Bank Deposits by the Federal Deposit Insurance Corporation William J. Kohlmetz Follow this and a itional works at : /mulr Part of the Law Commons Repository Citation William J. Kohlmetz, Banks and Banking - Insurance of Bank Deposits by t he Federal Deposit Insurance Corp oration, 32 Marq. L. Rev. 132 (1948). Available at : /mulr/vol32/iss2/5 This Article is brought to you for free and open access by the Journals at Marquette Law Scholarly Commons. It has been accepted for inclusion in Marquette Law R eview by an authorized administrator of Marquette Law Scholarly Commons. For more information, please contact megan.obrien@. COMMENTS BANKS AND BANKING -INSURANCE OF BANK DEPOSITS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION The decedent provided in his Will that the residuary estate should be held in trust for the designated beneficiaries during the period of administration. Under the terms of the will these beneficiaries were entitled to receive the income arising from the trust funds at semi- annual intervals. After the testators death, his executors, in their capacity as executors and not as trustees, opened two accounts at a bank whose deposits were insured by the Federal Deposit Insurance Corporation. The executors deposited the funds which they considered to be a part of the trust corpus in the one account entitled Estate of William F. Melosh-Capital Account, and deposited the income from the trust in the second account entitled Estate of William F.