May 2, 2024
This two-hour webinar delves into the responsibilities of collecting appropriate documentation, providing ownership options, titling accounts correctly, and allowing proper access to trust, fiduciary, and minor accounts not only during lifetime but at the death of a signer as well.
Formal, Informal, Revocable, Irrevocable, Minor Custodial Accounts, Court Ordered Accounts - what does it all mean? It never fails to raise the panic level when someone dumps a binder full of legal documents on your desk and requests to open a trust account, estate account or an account for a minor. This two-hour webinar, which is Part III of a three-part series, will delve into the responsibilities of collecting appropriate documentation, providing ownership options, titling accounts correctly, and allowing proper access to Trust, Fiduciary, Court Ordered, and Minor accounts not only during lifetime but at the death of a signer as well. Part II of this three-part series encompasses Business Accounts and Part I addresses Personal and Consumer Accounts.
It is highly recommended that attendees have a copy of their financial institution's account agreement and signature card to use as a reference during the session.
Thursday May 2nd, 2024
2:30pm - 4:30pm EST
What You'll Learn
Defining Trustee, Personal Representative, and Fiduciary Roles and Responsibilities
TIN Compliance for Trust, Minor and Fiduciary Accounts
Proper Account Titling
Formal vs. Informal Trust Comparison
Key Questions to Ask When Setting Up Trust Accounts
Six Pieces of Required Information For all Trust Accounts
Revocable vs. Irrevocable Trust Accounts
Payable on Death (POD)
As Trustee For, In Trust For, Totten Trusts
Minor Accounts
Court Ordered Accounts
Roles and Responsibilities of a Personal Representative
Understanding Estate Accounts
Guardianship/Conservator Accounts
Social Security Representative Payee
Veteran's Affairs Fiduciary
Who Should Attend
Customer contact personnel, supervisors, and officers whose responsibilities include opening or managing new accounts, as well as Personal Bankers, BSA Officers, Deposit Operations, Branch Administration, CIP Managers, Training and Business Development Officers, Internal Auditors, and Compliance Officers will find the information beneficial. Lending assistants and officers will find the information informative as well.
Terri D. Thomas, JD is the Director of the Kansas Bankers Association Legal Department, which specializes in providing compliance and legal assistance to Kansas banks.
Terri has worked with financial institutions for over thirty-nine years in various capacities. Most notably, she served for fourteen years as in-house legal counsel and trust officer for Bank of America and its Kansas predecessors. She has also served as a trust department manager and branch manager.
Available Upgrades
AyZha Hazelwood, Education Meeting Coordinator
Ahazelwood@indiana.bank
317-387-9380