When a Depositor Dies: Next Steps
On-Demand Webinar
StreamedDec 21, 2023Duration90 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
Can checks still be negotiated after an accountholder dies?
Who can access the deposit accounts? What changes can be made? What
about taxes, Social Security, setoff, and dealing with the family? If you don’t
have all the answers, this is the webinar for you.
AFTER
THIS WEBINAR YOU’LL BE ABLE TO:
- Identify who is entitled to the account upon the death of the accountholder
- Understand how to deal with the deceased’s estate or relatives
- Explain when checks and other withdrawals can be paid after the accountholder’s death
- Define who can negotiate a check made payable to the deceased accountholder
- Determine when the deceased’s accounts can be set off for debts owed to your institution
- Explain when and how federal benefit payments, such as Social Security, can be reclaimed
WEBINAR DETAILS
When one of your depositors dies, your institution
must act promptly and appropriately to avoid any liability. The federal
government can reclaim certain benefit payments that were deposited after an
accountholder’s death – even if those funds are no longer in the account. (Obviously,
any transaction after the accountholder’s death was conducted by someone else.)
This webinar will thoroughly explain the proper actions that should be taken
when a depositor dies, share best practices used by other institutions, and
cover the legal requirements and practical issues.
WHO SHOULD ATTEND?
This informative session
will be useful to all deposit operations personnel, collection personnel,
service representatives, compliance staff, auditors, attorneys, and managers.
TAKE-AWAY TOOLKIT
- Sample procedures for handling the accounts of deceased accountholders
- Guide to federal government ACH payment reclamations
- 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.
Presented By
Spencer Fane LLP
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