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Trust Accounts

Many customers use trusts to plan for their estate, family, taxes, etc.

OnDemand
Recorded Thursday,
November 10th, 2022
Presented by Deborah Crawford
1h 30m total length
$195.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Deposit Accounts
  • Trusts
  • Bank Secrecy Act Officer/BSA Specialist
  • Branch Manager
  • Compliance Officer
  • Customer Service Representative
  • Deposit Operations Manager/Specialist
  • New Accounts Representative
  • Private Banker

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When opening these special accounts, you need to know about proper documentation, CIP, and signature card responsibilities. You must also understand the trustee(s) authority and duties and your bank's responsibility and liability. This webinar will cover standard trust-opening procedures and many "dos and don'ts" that arise as trusts and account holder situations change.

What You'll Learn

  • Difference between an informal and formal trust
  • How CIP (Customer Identification Program) is accomplished on a trust
  • Signature card contracts styled and what disclosures are given
  • Differences in how accounts are opened depending on whether a trust is revocable or irrevocable
  • Key players in a trust
  • What happens if a trustee dies- documentation needed and what happens if the trust becomes irrevocable
  • Who is the payee when depositing, opening, or closing a trust
  • Power-of-attorney with a trust
  • Name changes
  • Financial institution closings and how the trust is insured
  • Joint owners on the account
  • Trusts amended, changed, or revoked and paperwork involved

Who Should Attend

This informative session will be useful for new customer representatives, customer service representatives, call center representatives, branch administration, branch operations, branch managers, compliance, BSA and anyone who opens new 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.