During this program, we will look at the high risk involved in fiduciary accounts and the legal documents that come with them. From guardianships to powers of attorney, we will look at the key players, who can do what, and whether you can refuse the account.
Learn how to open these high-level accounts and how to look at the paperwork and involve legal counsel. Some institutions send all paperwork to legal counsel, but many do a first look see and then send to legal when it involves complications. Learn how your procedures may be exposing your institution to risk on these special accounts.
What You’ll Learn
- Power of attorney documents: key components, players, state rules
- What can an agent do or not do on a POA?
- Living trusts, charitable trusts, and pension trust documents
- Tutor and Curator accounts court orders
- Other fiduciary arrangements: UTMAs, Social Security, and VA accounts
- Estates, Small Estates, and rights at death
- General rules of what fiduciaries can and cannot do
Who Should Attend
New accounts, branch managers, loan officers, management, deposit operations, deposit compliance, branch administration, BSA officers, BSA staff, compliance officers, training, and others who open accounts will benefit from this session.