Handling Trusts & Other Fiduciary Accounts 2024 | Community Bankers Webinar Network | 29 July 2024 | Webinar

Do you know what a trustee can and cannot do? Since a trust is a separate legal entity, are there special rules about opening, documentation, authorization, etc.? Join this lively webinar to learn the ins and outs of dealing with trusts.

After This Webinar You’ll Be Able To:
• Use the proper tools to evaluate the risks associated with trust and fiduciary accounts and take action to mitigate those risks
• Define the legal concept of fiduciary duty regarding trust, custody, conservator, and other fiduciary accounts
• Explain the legal requirements to open an account for a trust or other fiduciary
• Understand the specific CIP and beneficial ownership information that must be obtained for fiduciary accounts
• Distinguish when your institution serves only as a depository versus when it serves as a fiduciary

This event is substantially different – and riskier – than handling an individual account. Although many people inappropriately treat trust property as their own individual property, your financial institution must recognize the trust as a separate legal entity from the individual. Otherwise, trust beneficiaries may claim that your financial institution should have known that the trustee was using the deposit account for individual purposes or otherwise in breach of their fiduciary duty.

This webinar will explain everything you need to know about opening trusts and other fiduciary accounts, including proper account documentation, authorization requirements, red flags, and how to reduce the risk of loss.

Who Should Attend?
This informative session will benefit all deposit operations personnel, trust operations staff, officers, managers, compliance professionals, internal auditors, and attorneys.

2024 Speaker

PRESENTER:

Elizabeth Fast
Attorney, at Spencer Fane Britt & Browne