Handling Trusts & Other Fiduciary Accounts

Compliance Frontline & New Accounts IRA & HSA

On-Demand Webinar

StreamedJul 30, 2024Duration90 minutes

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

See Registration Options

Do you understand trust accounts and the risks they present?

Do you know what a trustee can and cannot do? Since a trust is a separate legal entity, are there special rules about opening, documentation, authorization, etc.? Join this lively webinar to learn the ins and outs of dealing with trusts.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Use the proper tools to evaluate the risks associated with trust and fiduciary accounts and take action to mitigate those risks
Define the legal concept of fiduciary duty regarding trust, custody, conservator, and other fiduciary accounts
Explain the legal requirements to open an account for a trust or other fiduciary
Understand the specific CIP and beneficial ownership information that must be obtained for fiduciary accounts
Distinguish when your institution serves only as a depository versus when it serves as a fiduciary

WEBINAR DETAILS

Handling a trust account is substantially different – and riskier – than handling an individual account. Although many people inappropriately treat trust property as their own individual property, your financial institution must recognize the trust as a separate legal entity from the individual. Otherwise, trust beneficiaries may claim that your financial institution should have known that the trustee was using the deposit account for individual purposes or otherwise in breach of their fiduciary duty.

This webinar will explain everything you need to know about opening trusts and other fiduciary accounts, including proper account documentation, authorization requirements, red flags, and how to reduce the risk of loss.

WHO SHOULD ATTEND?

This informative session will benefit all deposit operations personnel, trust operations staff, officers, managers, compliance professionals, internal auditors, and attorneys.

TAKE-AWAY TOOLKIT

Checklist of items to review and evaluate when opening a deposit account for a trust or other fiduciary account
Employee training log
Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.