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Handling Deceased Accounts

Learn about checks, IRAs, deposit ownership, trusts, UTMA, affidavits of heirship and other complex issues that can occur when a customer is deceased.

OnDemand
Recorded Tuesday,
April 5th, 2022
Presented by Deborah Crawford
2h total length
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Lending
  • Branch Manager
  • Deposit Operations Manager/Specialist
  • New Accounts Representative
  • Private Banker
  • Teller
  • Trainer

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Your customer passed away and the family is grieving. Yet, in the midst of all the grieving 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.

When your deposit customer dies, many issues and questions arise. Who can have information on the account? Who owns the account? What 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 customer is deceased.

Covered Topics

  • Probate versus non-probate transfers
  • When does the will govern and when does the signature card?
  • What by passes a will? PODs, IRAs, JTWROS?
  • Living trusts and successor trustees
  • When do we know that a customer is deceased?
  • When can we use small estate affidavits?
  • What happens to powers of attorney, authorized signers, etc.
  • How are IRAs, HSAs and UTMAs affected?
  • Do sole proprietorships cease at death?
  • FDIC insurance issues

Who Should Attend

This webinar is designed for customer service representatives, branch administration, branch managers, tellers, training and development staff, compliance personnel and anyone who handles customer accounts.

"Deb was very easy to listen to and very knowledgeable." -Cindy Spaulding, Vice President, 21st Century Bank


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.