Live Webinar: 90 Minutes

Since trusts are a separate legal entity, care must be taken to only allow authorized individuals to access and/or borrow from them. This practical program will provide all the particulars and helpful checklists so you can handle trusts with confidence and reduce the risk of loss to your institution.

Opening a deposit account for a trust is substantially different from opening an account for an individual. The same goes for lending to a trust. Many people treat trust property like it is their own personal property – which is NOT correct. The trust is a separate legal entity even if it uses the grantor’s Social Security number. Moreover, trust agreements are lengthy, complicated legal documents which, if not handled properly, can expose your institution to significant liability.

This webinar will explain the proper documentation and other information that you must obtain before opening accounts for trusts, including determining who is authorized to transact business on the trust’s account. In addition, it will explain the necessary loan documents that must be obtained and everything else your institution must evaluate before making loans to trusts, including determining whether the trust has the power to borrow money and/or pledge trust assets.