when the grantor trustor of a revocable trust dies the trust automatically converts into an irrevocable trust 
can you get deposit insurance on a trust account yes you can as of april 1 2024 the federal deposit insurance corporation fdic has issued final regulations that alter how bank accounts held in the name of a trust will be insured the regulations effectively treat revocable and irrevocable trusts the same in terms of determining the limits on insurance combining them into a single category called trust accounts that means that funds in a bank for a trust are insured up to 250 000 per beneficiary per fdic insured bank up to a maximum of five eligible beneficiaries or 1 25 million an eligible beneficiary can be any living person or a charity or nonprofit recognized by the irs for example a trust owner with three eligible primary not contingent beneficiaries is insured up to 750 000 1the bottom linea revocable trust which you create during your lifetime can help you manage your assets as well as protect you if you become ill or disabled its advantage over an irrevocable trust is that you can usually revoke or amend it whenever you might want to also a revocable trust will help your heirs avoid probate but it won t help them avoid estate tax 