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.
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.
Continuing Education 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.