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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,
July 21st, 2022
Presented by Terri D. Thomas
2h total length
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Deposit Accounts
  • 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

  • Documents required upon the death of an individual
  • Actions to be taken on deposit accounts owned by the decedent
  • How to deal with the decedent's estate, or lack thereof
  • How to handle death as a default on a loan
  • New mortgage servicing rules impact mortgages after death
  • What to know about doing business with the borrower's estate
  • Steps to take to protect collateral after the borrower has died
  • How death of a key person affects 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.


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.