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Handling Deceased Accounts

Your member passed away and the family is grieving. Yet, in the midst of all the remembering and honoring of a life, the legal and compliance clock is ticking. In most states, checks can be paid for 10 days after the date of death.

OnDemand
Recorded Tuesday,
February 22nd, 2022
Presented by Deborah Crawford
1h 30m total length
2 CEU Credits
$195.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Deposit Accounts
  • Risk Management/Legal
  • Branch Manager
  • Compliance Officer
  • Customer Service Representative
  • Deposit Operations Manager/Specialist
  • New Accounts Representative
  • Private Banker
  • Teller
  • Trainer

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Your member passed away and the family is grieving. Yet, in the midst of all the remembering and honoring of a life, the legal and compliance clock is ticking. In most states, checks can be paid for 10 days after the date of death. However, ACH items cannot be paid once we know the member is deceased.

When your deposit member dies, many issues and questions arise. Who can have information on the account? Who owns the account? Who has access to the account? What happens with powers of attorney and authorized signers on the account? Can the spouse of the sole proprietor continue to access the account? What about that last tax refund check? Is the account still insured? Can a check be written to a funeral home? What about the checks coming in to pay the funeral expenses? Learn about checks, IRAs, deposit ownership, trusts, UTMA, affidavits of heirship, and other complex issues that can occur when a member is deceased.

What You Will Learn

  • Probate versus non-probate transfers
  • When does the will govern and when does the signature card?
  • What by passes a will? PODs, IRAs, JTWROS?
  • Living trusts and successor trustees
  • When do we know that a member is deceased?
  • When can we use small estate affidavits?
  • What happens to powers of attorney, authorized signers, etc.
  • How are IRAs, HSAs and UTMAs affected?
  • Do sole proprietorships cease at death?
  • NCUA insurance issues

Learn caption

This webinar is designed for member service representatives, branch administration, branch managers, tellers, training and development staff, compliance personnel and anyone who handles member accounts.


Deborah Crawford

Instructor Bio

Deborah Crawford is the President of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.


Credit Information

Recommended for 2 CEU Credit Hours. After attending this webinar, each attendee can receive a Certificate of Attendance for self-reporting of CEU Credits.