Member Fee: $165 per connection
Non-Member Fee: $265 per connection
Your customer passed away and the family is grieving. Yet, in the midst of all the grieving and honoring of a life, the legal and compliance clock is ticking. In most states, checks can be paid for 10 days after the date of death.
When your deposit customer dies, many issues and questions arise. Who can have information on the account? Who owns the account? Who has access to the account? What happens with powers of attorney and authorized signers on the account? Can the spouse of the sole proprietor continue to access the account? What about that last tax refund check? Is the account still insured? Can a check be written to a funeral home? What about the checks coming in to pay funeral expenses? Learn about checks, IRAs, deposit ownership, trusts, UTMA, affidavits of heirship and other complex issues that can occur when a customer is deceased.
Topics include:
• Probate versus non-probate transfers
• When does the will govern and when does the signature card?
• What by passes a will? PODs, IRAs, JTWROS?
• Living trusts and successor trustees
• When do we know that a customer is deceased?
• When can we use small estate affidavits?
• What happens to powers of attorney, authorized signers, etc.
• How are IRAs, HSAs and UTMAs affected?
• Do sole proprietorships cease at death?
• FDIC insurance issues
Debbie Crawford is the President of gettechnical, Inc. a Baton Rouge-based firm, specializing in the education of banks and credit unions across the nation. Her 27+ years of banking and teaching experience began at Hibernia National Bank in New Orleans. She graduated from Louisiana State University with both her bachelor's and master’s degrees. Deborah's specialty is in the deposit side of the financial institution where she teaches seminars on regulations, documentation, insurance and Individual Retirement Accounts.