When a Depositor Dies: Actions to Take, Mistakes to Avoid

Compliance Frontline & New Accounts IRA & HSA Operations Deposit Account Compliance

On-Demand Webinar

StreamedOct 9, 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

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Do you know how to handle the death of a depositor?

What are the implications? What documentation is required? Is there a beneficiary? How and where are assets transferred? What about tax reporting, insurance, estates, account changes, businesses, etc.? Attend this webinar to get the lowdown on deftly dealing with a depositor’s death.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Report taxes to the IRS after death
Avoid estate setup mistakes
Define “knowledge” of death and its requirements
Explain accounts that have will bypass rights at death
Distinguish formal estates and small estate affidavits
Manage check issues
Unpack specialty accounts like UTMAs, guardianships, Social Security representative payees
Help business accountholders take appropriate action when a key player dies
Explain to accountholders what happens regarding insurance after death

WEBINAR DETAILS

Your accountholder is deceased. Now what? This webinar will explain how different legal ownerships have different results at death. Not every account has a beneficiary designation, so what comes next? You’ll learn about rights at death on accounts and how to transition ownership to an estate when appropriate. The program will also cover insurance changes, IRS reporting requirements, handling checks at death, and dealing with business accounts after death.

WHO SHOULD ATTEND?

This informative session will benefit branch operations personnel, compliance staff, trainers, branch managers, and new account representatives.

TAKE-AWAY TOOLKIT

New account manual with flowcharts for handling accounts at death
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.