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Handling Deceased Deposit Accounts

Your account holder passed away and the family is grieving. Yet, in the midst of all the grieving 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,
January 9th, 2024
Presented by Deborah Crawford
2h total length
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Deposit Accounts
  • Deposit Compliance
  • General Compliance
  • Teller
  • Transaction Compliance
  • Branch Manager
  • Compliance Officer
  • Customer Service Representative
  • Deposit Operations Manager/Specialist
  • Teller
  • Training Manager
  • Trainer

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When your account holder 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 an account holder is deceased.

What You'll Learn

  • Probate versus non-probate transfers
  • When does the will govern and when does the signature card govern?
  • What bypasses a will? PODs, IRAs, JTWROS?
  • Living trusts and successor trustees
  • When do we know that an account holder 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?
  • FDIC/NCUA insurance issues

Who Should Attend

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

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