|Formal, Informal, Revocable, Irrevocable, Minor Custodial Accounts - what does it all mean?
It never fails to raise the panic level when someone dumps a binder full of legal trust documents on your desk or wants to open an account in the minor's name and SSN. This two-hour webinar will delve into the responsibilities of collecting the correct documentation, titling the account correctly, choosing the correct ownership, and allowing proper access to the account.
The Following Issues Will Be Explored:
- How should a POD or ITF trust account be titled in order to create the informal trust account?
- What are the six pieces of information required to open a formal trust account?
- How do we know which Taxpayer Identification Number to use on the trust account?
- What is the difference between a Uniform Transfer to Minors Act Account and a "minor by" custodial account?
- When can a minor access the funds in an account set up in his/her name.
Note: You are encouraged to have a copy of your account agreement and signature card handy to reference during the webinar.
Who Should Attend
All customer contact personnel and supervisors and officers whose responsibilities include opening or managing new accounts and certificates of deposit. Excellent for supervisors or officers who have recently assumed the responsibility of the new account area but have never actually worked in new accounts. Internal Auditors and Compliance Officers also will find the information exceptionally beneficial as well.
About The Presenter
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, TX. She has over 30 years experience in the banking industry specializing in Deposit Accounts and IRAs, and is currently providing live training in these areas for many organizations on a nationwide basis.
Cannot Attend The Live Presentation?
This presentation is also available in a recorded format, in On-Demand Or CD versions, as shown in the pricing options below.