FDIC limit if I put my daughters name as a benafichery

What is the FDIC coverage if I put my daughter on my account as a benafichery ?

Same as it is if you don't.

I am pretty sure it must be a joint account if you are trying to increase your coverage.  At the moment, I believe it's $250,000 per individual, til December (next month). It used to be $100,000 per person.

For a joint account, at this moment, you are covered up to $500,000. 

You can divide money up into different banks if you want to be completely sure.  The limit, was, and may go back to $100,000 per person, per bank. 

What is your objective?

My objective is to get FDIC coverage to $500K

Then it would have to be a joint account, not a beneficiary account. See the following link to the FDIC:

http://www.fdic.gov/de...

And understand that if you add her to make it a joint account, you are making a gift for federal gift tax purposes, which will result in using up your unified credit to the extent your gifts to her for the year exceeds $13,000. The amount of the gift would be the amount in the account.

I'm not so sure that to put a persons name on a bank account as  JWROS creates a gift when it is added--I thought the gift took place when and if the other person decided to withdraw funds.  At least double check.

(But its different for adding them to real estate --thats a current gift as I understand it)

But remember if you add somebody they could come raid the account and or if they got into financial hot water its possible their creditors could come raid it --or even a angry soon to be EX son in law go after it via divorce games.

So be sure of what you are doing........

Drew:

I'm not so sure that to put a persons name on a bank account as JWROS creates a gift when it is added--I thought the gift took place when and if the other person decided to withdraw funds. At least double check. (But its different for adding them to real estate --thats a current gift as I understand it)

That's generally correct, thanks for pointing the clarification.

But the potential for adverse gift tax consequences is there depending on how the account is set up and whether the funds are taken out by the other person. And, of course, the very access to the account by the other person presents risks, including risks that the other person's creditors can get the money.