Opening New Accounts - Legal Ownership of Consumer Accounts
Account title vs. ownership indicated vs. authorized signer on the legal document...Does it really matter on a personal account? You bet it does! It's ALL about ownership vs. access, and who on the account has the authority to do what. We're beyond the days where we let our accountholders tell US how they're going to title accounts. When we look at a legal document, 4 points must be clear:
- Who is the "owner" of the funds in the account?
- Who just has "access" to the funds, and what is their capacity?
- What do they want to happen to the funds while they are alive?
- What do they want to happen to the funds when they die?
If there are any "gray areas" on the legal documentation, your financial institution may be dragged into court on even a small legal technicality.
We highly recommend you have a copy of your financial institution's account agreements and/or signature card nearby to follow along.
This is Part 1 of a 3-part series. The 2nd session is Tuesday, April 18, and the 3rd is Wednesday, April 26. You may attend all sessions or each one individually.
Understanding Signature Card Contracts and Proper Account Opening Procedures for:
Who Should Attend
- Individual and Single Party Accounts
- Joint and Multiple Party Accounts with and without Rights of Survivorship
- Authorized Signers or Agents on Personal Accounts
- Power of Attorneys - In House Form and Out of House Form
- Minor accounts - using a minor's SSN on a bank account. What does it mean?
All customer contact personnel, supervisors and officers whose responsibilities include opening or managing the new account area. Excellent for supervisors or officers who have authority to "waive" documentation requirements. Internal Auditors and Compliance Officers will find the information exceptionally beneficial as well.
Patrice M. Konarik is president of Sunwest Training Corp. founded over 20 years ago and is located in the Texas Hill Country near San Antonio, Texas. With over 30 years experience in the financial industry, Patrice has focused her expertise on the retirement and new account areas and is currently providing live training and webinars on these subjects on a nationwide basis. She has a BS In Management Science from New York's Binghamton University. Many state banking associations and other organizations use her as their main source for training on these complicated topics. Patrice's upbeat personality and former banking experience easily encourages interaction and questions during the training sessions.
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||Since 1983 Total Training Solutions has produced dozens of videotapes, CD-Roms, DVD's and web-based training modules. In addition to off-the-shelf products, Total Training Solutions also develops custom training products and consults with financial institutions to develop their own training curriculum.
For timely delivery of training topics, webinars or web conferencing is an unbeatable option. We now offer over 100 live programs per year and you can even purchase the recorded or ondemand session if you are unable to attend the live program.
We have worked exclusively with the financial industry since our founding. Because of this, we understand the needs of training departments in financial institutions and are alert to changes which affect the industry.
Attend the live session with the opportunity to ask questions to the presenter. You also receive a link to the handouts. All registrations for a live event will be given access to the OnDemand recording, at no additional cost, for seven days following the event. This will allow a flexible alternative when last minute conflicts intrude on scheduled events.
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Includes a weblink for unlimited viewing for 6 months after the date of the webinar as well as a link to handouts.
Live + Recorded:
Includes all three options above. Live session, OnDemand Weblink, and CD-Rom plus Hardcopy Handouts.
Live + OnDemand:
Includes two of the options above. Live session and 6 months access to OnDemand Weblink plus link to handouts.
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|Opening New Accounts - Legal Ownership of Consumer Accounts||CD/On-Demand||$295.00||
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