Opening New Accounts Part 3: Trust and Fiduciary Accounts Webinar

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 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.

Covered Topics:

-Defining Trustee, Personal Representative, and Fiduciary Roles and Responsibilities
-TIN Compliance for Trust, Minor and Fiduciary Accounts
-Proper Account Titling
-Trust Accounts

  • What is the Benefit of Setting up a Trust?
  • Parties to a Trust
  • Documentation Requirements
  • Trust Account Certification
  • Formal vs. Informal Comparison
  • Key Questions to Ask When Setting Up Trust Accounts
  • Six Pieces of Required Information For all Trust Accounts
  • Revocable and Irrevocable Trust Accounts Comparison

-Informal Trust Accounts

  • What Makes a Trust ‘Informal’?
  • Account Titling Requirements
  • TIN Compliance
  • Payable on Death (POD)
  • As Trustee For, In Trust For, Totten Trusts

-Formal Trust Accounts

  • What Makes a Trust ‘Formal’?
  • Account Titling Requirements
  • TIN Compliance
  • Documentation Requirements

-Minor Accounts

  • Single / Individual Account in Minor’s Name
  • Joint / Multiple Party Account with a Minor
  • Uniform Transfer to Minor’s Account (UTMA)
  • Minor’s Access to Funds

-Court Ordered Accounts

  • Roles and Responsibilities of a Personal Representative
  • Understanding Estate Accounts
  • Guardianship/Conservator Accounts
  • Social Security Representative Payee

Who Should Attend?

Customer contact personnel, supervisors and officers whose responsibilities include opening or managing new accounts. 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.

Continuing Education (CE) Credits

This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.

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Suzie Jones
Suzie Jones

Suzie Jones relates to her audience. For decades, Suzie opened new accounts, managed new account teams, and provided hands-on input to the AML and BSA Committees within the bank. With over 45 years of... read more.

Course TitleCreditsStart DateStart TimeDelivery TypeDelivery OptionInstructor / LocationPrice
Opening New Accounts Part III - Trust and Fiduciary0.25 Any AnyWebinarSix Month On-Demand Recording Suzie Jones$295.00 Register Now
Opening New Accounts Part III - Trust and Fiduciary0.25 Any AnyWebinarCD-ROM Video Recording Suzie Jones$345.00 Register Now
Delivery Options

INCLUDES 7 DAYS OF ONDEMAND PLAYBACK! With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. You can type and send your questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate at the same time. And don’t worry if you miss the webinar, you can still view it for up to seven days after it takes place!

With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. The weblink will be available to you (and anyone else in the company) for up to six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.

If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.

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