When you register for this webinar, you will receive a complimentary 9-part toolkit, which includes the following materials:
= (1) Revocable vs. Irrevocable Trust Comparison Chart
= (2) Estate Plan Flow Chart
= (3) Trust Structure 101
= (4) U.S. State Trust Laws: Income Taxes & Trust Duration
= (5) Sample Power of Attorney Form
= (6) Sample Adult Guardianship Form
= (7) Sample Child Guardianship Form—When Parents Agree
= (8) Sample Child Guardianship Form—When Parents Will Not Agree
= (9) Social Security 19-Page Guide for Representative Payees
There are many circumstances in which one person is tasked with managing the finances of another. When an account holder, a governmental agency, or a court selects a fiduciary to act on behalf of another party, your institution is responsible for properly opening a new account or maintaining an existing account.
These accounts are challenging because they raise a series of legal and ethical questions:
= What supporting paperwork must the fiduciary provide to open or manage the account?
= Who owns the money or other assets, and who has the capacity to manage and access the funds?
= What unusual requests may a fiduciary make? I.e., Can a joint owner be added to an existing account? Can deposit checks be payable to a business?
= Is an informal Totten trust the same as a Payable-on-Death (POD) account? What are trusts are revocable and which are irrevocable?
= What does the Uniform Transfers to Minor Acts (UTMA) mean to my institution? What is the difference between a UTMA account and a "minor by" custodial account?
You must know the answers to these questions so that you may guide the account holder and/or fiduciary during the opening (and maintaining) of these accounts. During this webinar, we will review the account set-up process, and discuss the legal issues surrounding these high-risk accounts. You will learn how to correctly format the signature card to identify rightful signer(s) on the bank account. To learn more about these intricate accounts, please join for this informative session, which is packed full of minor, fiduciary, and trust account dos and don'ts.
= Power of Attorney Issues. What Types of Power of Attorney Documents Exist? What Actions Can an Attorney-in-Fact Take? What Actions is an Attorney-in-Fact Prohibited From Taking? How is an Attorney-in-Fact Added to an Account? When Do Powers of Attorney Cease?
= Guardianships. What are the Most Important Elements of Court-Ordered Guardianship or Conservatorship Documents? What are the Dos and Don'ts of Guardianships? How Do I Set-up a Guardianship?
= Estate Accounts. What are the Differences Between Letters Testamentary and Letters of Administration? What are Common Issues Related to Opening & Handling Accounts at Death?
= Executors, Administrators, Guardians, Power of Attorney, & Other Fiduciaries: Authority, Liability, and Necessary Documentation
= Social Security Representative Payee and Veteran Accounts
= Government Benefit Accounts Signature Card Set-up
= Customer Identification Program Requirements for All Fiduciary Accounts
= Uniform Transfer to Minors Act (UTMA)
= Trust Accounts. How Should an Account be Titled in Order to Create an Informal Trust Account? What are the 6 Pieces of Information Required to Create a Formal Trust Account? Which Taxpayer Identification Number Should be Used on the Trust Account? How do the new FDIC Rules Affect Trust Accounts?
To receive the full benefits of this training session, please have a copy of your institution's account agreement and signature card for reference during this webinar.
Who Should Attend?
This informative session will be useful for all customer contact personnel, supervisors, and officers whose responsibilities include opening or managing new accounts.
This program is excellent for:
= New Account Representatives,
= Customer Service Representatives,
= Branch Administration,
= Branch Operations,
= Branch Managers & Supervisors,
= Personal Bankers,
= Compliance Officers & Personnel,
= BSA Officers & Personnel,
= Internal Auditors & Audit Staff