Handling Trusts & Other Fiduciary Accounts

Date:

Jul 30, 2024

Register

Live Webinar: 90 Minutes

Do you know what a trustee can and cannot do? Since a trust is a separate legal entity, are there special rules about opening, documentation, authorization, etc.? Join this lively webinar to learn the ins and outs of dealing with trusts.

Handling a trust account is substantially different – and riskier – than handling an individual account. Although many people inappropriately treat trust property as their own individual property, your financial institution must recognize the trust as a separate legal entity from the individual. Otherwise, trust beneficiaries may claim that your financial institution should have known that the trustee was using the deposit account for individual purposes or otherwise in breach of their fiduciary duty. 

This webinar will explain everything you need to know about opening trusts and other fiduciary accounts, including proper account documentation, authorization requirements, red flags, and how to reduce the risk of loss.

Agenda

July 30th, 2024
Webinar begins - 11:00 AM EST

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

  • Use the proper tools to evaluate the risks associated with trust and fiduciary accounts and take action to mitigate those risks
  • Define the legal concept of fiduciary duty regarding trust, custody, conservator, and other fiduciary accounts
  • Explain the legal requirements to open an account for a trust or other fiduciary
  • Understand the specific CIP and beneficial ownership information that must be obtained for fiduciary accounts
  • Distinguish when your institution serves only as a depository versus when it serves as a fiduciary
Topics

TAKE-AWAY TOOLKIT:

  • Checklist of items to review and evaluate when opening a deposit account for a trust or other fiduciary account
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits
Speaker(s)

Elizabeth Fast
SPENCER FANE LLP

Additional Information

WHO SHOULD ATTEND?
This informative session will benefit all deposit operations personnel, trust operations staff, officers, managers, compliance professionals, internal auditors, and attorneys.

Fees

Live : $510.00
OnDemand: $510.00
Live + OnDemand: $750.00

Association Contact

AyZha Hazelwood, Education Meeting Coordinator
Ahazelwood@indiana.bank
317-387-9380