Opening Trust, Fiduciary and Minor Accounts--Documentation and Compliance Requirements

Patrice Konarik

Patrice M. Konarik, CFP is president and founder of Sunwest Training Corp. located near San Antonio, TX. She has over 25 years experience in the banking industry specializing in Deposit Accounts and IRAs, and is currently providing training in these areas for many organizations on a nationwide basis. Patrice earned her BS in Management from Binghamton University in New York and has been a Certified Financial Planner for over 20 years.

Tuesday, September 30th, 2008
10:00 am - 12:00 pm CT

Formal, Informal, Revocable, Irrevocable, Minor Custodial Accounts, Guardianship, Conservatorship – what does it all mean? It never fails to raise the panic level when someone dumps a binder full of legal trust documents on your desk or presents the financial institution with court documents. This two hour webinar will delve into the responsibilities of collecting the correct documentation, titling the account correctly, choosing the correct ownership and allowing proper access to the account.

The following issues will be explored:

How should a POD or ITF trust account be titled in order to create the informal trust account?
What are the six pieces of information required to create a formal trust account?
How do we know which Taxpayer Identification Number to use on the trust account?
What is the difference between a Uniform Transfer to Minors Act Account and a “minor by” custodial account?
What are the most important elements of court-ordered guardianship or conservatorship documents?

You are encouraged to have a copy of your account agreement and signature card handy to reference during the webinar.

Who Should Attend?

All customer contact personnel, supervisors and officers whose responsibilities include opening or managing new accounts and certificates of deposit. Excellent for supervisors or officers who have recently assumed the responsibility of the new account area but have never actually worked in new accounts. Internal Auditors and Compliance Officers will find the information exceptionally beneficial as well.

Sign Up!

On-Demand Recording Only - $255: Unlimited playback & materials only. If you are unable to attend the regularly scheduled event, but are interested in the topic, you can purchase the recorded version. You will receive a web address for online viewing and an audio CD and handouts for offline viewing.