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What to Do When a Customer Dies

This webinar focuses on the deposit and loan issues that arise when a customer dies.

OnDemand
Recorded Thursday,
February 18th, 2021
Presented by Terri D. Thomas
2h total length
2.5 CEU Credits
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Risk Management/Legal
  • Bank Legal Counsel
  • Compliance Officer
  • Consumer Lender/Retail Banker
  • Customer Service Representative
  • Deposit Operations Manager/Specialist
  • Loan Operations Manager/Specialist
  • Mortgage Lender
  • New Accounts Representative

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Ironically, when a financial institution learns a deposit or loan customer has died, confusion and dread seem to be the normal reaction. We'll walk you through the best practices when dealing with a customer's death - both on the deposit side and the loan side, as well as unique issues that can arise when doing business with the decedent's estate. This webinar provides information on best practices, rather than the unique features of any state's probate laws.

What You'll Learn

  • What documents are required upon the death of an individual?
  • What actions should your financial institution take on deposit accounts owned by the decedent?
  • How should your financial institution deal with the decedent's estate?
  • What should your financial institution do if there isn't an estate?
  • How should your financial institution handle "death" as a default on a loan?
  • How will the new mortgage servicing rules impact mortgage loans where the borrower has died?
  • What does every lender need to know about doing business with the borrower's estate?
  • What steps can your financial institution take to protect its collateral after the borrower has died?
  • How should your financial institution handle issues of guarantors, setoff and insurance once the borrower has died?
  • How does the death of a key person affect the borrowings of Corporations, Partnerships, Limited Liability Companies, Trusts and other legal entities?

Who Should Attend

New account representatives, personal bankers, customer service representatives, lenders and loan operations personnel.

"Well presented and very insightful. The information provided applies to actual day-today operations. Thank you." - Gina W., The Citizens National Bank of Quitman

"Very helpful for numerous situations and covered in just a short time." - Cindy S., Western State Bank

"The information was practical and well presented." - Cheryl Braude, First Bank of Highland Park

Terri D. Thomas

Instructor Bio

Terri D. Thomas, JD is the Director of the Kansas Bankers Association Legal Department, which specializes in providing compliance and legal assistance to Kansas banks.

Terri has worked with financial institutions for over thirty-nine years in various capacities. Most notably, she served for fourteen years as in-house legal counsel and trust officer for Bank of America and its Kansas predecessors. She has also served as a trust department manager and branch manager.

Receiving her Bachelor of Arts degree from Kansas State University in 1985, Terri continued her education at Washburn University School of Law and obtained her Juris Doctor in 1988. She has served as an Adjunct Professor at Washburn University School of Law in Topeka, Kansas and the University of Kansas School of Law in Lawrence, Kansas, and is a frequent seminar presenter for financial associations in the Midwest.

Continuing Education Credit Information

Recommended for 2.5 CEU Credit Hours. After attending this webinar, each attendee can receive a Certificate of Attendance for self-reporting of CEU Credits.

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