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Opening New Accounts Part III: Trust and Fiduciary

This two-hour webinar will discuss the responsibilities of collecting appropriate documentation, providing ownership options, titling accounts, and allowing proper access to Revocable Living Trusts, Fiduciary, Court Ordered, and Minor accounts not only during the lifetime, but at the death of a signer as well.

OnDemand
Recorded Thursday,
May 4th, 2023
Presented by Suzie Jones
2h total length
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Computer Skills
  • Deposit
  • Deposit Accounts
  • Deposit Compliance
  • Risk Management/Legal
  • Teller
  • Trusts
  • Bank Legal Counsel
  • Bank Secrecy Act Officer/BSA Specialist
  • Branch Manager
  • Compliance Officer
  • Customer Service Representative
  • Deposit Operations Manager/Specialist
  • Marketing Officer/Business Development
  • New Accounts Representative
  • Private Banker
  • Risk Manager
  • Teller
  • Trainer
  • Trust Officer

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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 revocable living trust account, estate account, or an account for a minor. This two-hour webinar, Part III of a three-part series, will discuss why revocable trusts have become so popular, documentation options, titling accounts correctly, and allowing proper access to Trust, Fiduciary, Court Ordered, and Minor accounts. not only during the lifetime but at the death of a signer. Part II of this three-part series encompasses Business Accounts and Part I addresses Personal and Consumer Accounts.

It is suggested that attendees have copies of their bank's account agreement and signature card to use as a reference during the session.

What You'll Learn

  • Defining Trustee, Personal Representative, and a Fiduciary's Roles and Responsibilities
  • Proper Account Titling
  • Formal vs. Informal Trust 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
  • Payable on Death (POD)
  • Different Types of Accounts, Including Minor Accounts, Estate Accounts, Guardianship/Conservator Accounts, Social Security
  • Representative Payee Accounts, and Veteran's Affairs Fiduciary Accounts

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.


Suzie Jones

Instructor Bio

With over 40 years of banking experience, Suzie has a reputation as being extremely knowledgeable and high-energy with a unique ability to take technical information and make it interesting and applicable. After 22 years, Suzie recently retired as an Executive Vice President from a large regional bank where she provided overall leadership and risk management to the $11B Investments Division. For decades Suzie opened new accounts, managed new account teams, and provided hands-on input and leadership to the AML and BSA Committees within the bank. Suzie has a passion for sharing technical knowledge and lessons learned to provide risk management and promote excellence in the workplace. She partners nationally with individual banks, credit unions, private companies, small boutique firms, and provides training for 13 state bank associations.