Next Page Irrevocable Trusts 33.
Irrevocable trusts are another legal ownership category.
The interests of the beneficiaries must be ascertainable from the deposit account records of the depository institution or from the records of the trustee maintained in good faith and in the regular course of business. The value of each beneficiary's interest must be determinable according to FDIC regulations. The trust must be valid under state law. Kinship is not a factor in determining coverage of irrevocable trusts.