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Handling Share Accounts at Death

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.

Upcoming
Wednesday, August 17th, 2022
10:00 am - 11:30 am
Presented by Deborah Crawford
$195.00 or 1 Token

Includes: Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Customer Service
  • Deposit Accounts
  • Deposit Compliance
  • General Compliance
  • Transaction Compliance
  • Branch Manager
  • Compliance Officer
  • Customer Service Representative
  • Senior Management
  • Teller
  • Trainer

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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 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 funeral expense? 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'll Learn

  • Probate versus non-probate transfers
  • When does the will govern and when does the signature card
  • What bypasses a will - PODs, IRAs, JTWROS
  • Living trusts and successor trustees
  • When do we know that a member is deceased
  • Small estate affidavits
  • Powers of attorney, authorized signers, etc.
  • How IRAs, HSAs, and UTMAs are affected
  • Sole proprietorships
  • NCUA insurance issues

Who Should Attend

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.