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    Trust Accounts: Best Practices and Procedures

    Wednesday, May 9, 2018 - 2:00 PM - 3:30 PM ET
    $149.00
    *
    Many account holders use trusts to plan for their estate, family, taxes, etc. When opening these special accounts, you need to know about proper documentation, CIP and signature card responsibilities. You must also understand the trustee(s) authority and duties and your financial institution’s responsibility and liability. This webinar will cover standard trust-opening procedures and many questions that arise as trusts and account holder situations change.

    Overview

    A trust (or escrow) acccount is an account in which a bank holds funds for specific purposes, such as to pay property taxes and/or insurance premiums associated with a mortgaged property.

    Many account holders use trusts to plan for their estate, family, taxes, etc.  When opening these special accounts, you need to know about proper documentation, CIP and signature card responsibilities. You must also understand the trustee(s) authority and duties and your financial institution’s responsibility and liability.

    This webinar will cover standard trust-opening procedures and many questions that arise as trusts and account holder situations change.

    Covered Topics

    • Do learn the difference between an informal and formal trust
    • Don’t forget to do CIP (Customer Identification Program) on a trust 
    • Do learn how signature card contracts are styled and what disclosures are given
    • Do remember tax reporting rules on a trust especially grantor trusts.
    • Do remember the key players in a trust?
    • Don’t forget what happens if a trustee dies, what documentation is needed and what happens if the trust becomes irrevocable
    • Who is the payee when depositing, opening, or closing a trust?
    • Don’t let POA on a trust unless the trust says you can
    • Do remember that trusts can be amended, changed, or revoked
    • And much more

    Who Should Attend? 

    This informative webinar will benefit new account representatives, customer service representatives, branch administration, branch operations, branch managers, personal bankers, and anyone who opens trust accounts or handles trust transactions.

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    Overview

    A trust (or escrow) acccount is an account in which a bank holds funds for specific purposes, such as to pay property taxes and/or insurance premiums associated with a mortgaged property.

    Many account holders use trusts to plan for their estate, family, taxes, etc.  When opening these special accounts, you need to know about proper documentation, CIP and signature card responsibilities. You must also understand the trustee(s) authority and duties and your financial institution’s responsibility and liability.

    This webinar will cover standard trust-opening procedures and many questions that arise as trusts and account holder situations change.

    Covered Topics

    • Do learn the difference between an informal and formal trust
    • Don’t forget to do CIP (Customer Identification Program) on a trust 
    • Do learn how signature card contracts are styled and what disclosures are given
    • Do remember tax reporting rules on a trust especially grantor trusts.
    • Do remember the key players in a trust?
    • Don’t forget what happens if a trustee dies, what documentation is needed and what happens if the trust becomes irrevocable
    • Who is the payee when depositing, opening, or closing a trust?
    • Don’t let POA on a trust unless the trust says you can
    • Do remember that trusts can be amended, changed, or revoked
    • And much more

    Who Should Attend? 

    This informative webinar will benefit new account representatives, customer service representatives, branch administration, branch operations, branch managers, personal bankers, and anyone who opens trust accounts or handles trust transactions.

    Presenter:

    Christy Crawford

    Christy Crawford is president of Christy Crawford Consulting specializing in the education of banks and credit unions across the nation. Christy is an associate speaker for Gettechnical Inc. As a former trainer for Wal-Mart Corporation, and former V.P. of Gettechnical Inc. she brings her previous 12 years of sales and training experience to your financial institution. She earned a bachelor's degree from Louisiana State University and is BSA/AML certified. Her expertise is in the deposit side of the financial institution and focuses on teller, new accounts, IRAs, HSAs, robbery, security and BSA for the frontline training.