Living, Grantor & Family Trust Accounts: Common Problems in Account Opening & Lending 2019 | Independent Bankers Association of Texas (IBAT) | 25 June 2019 | Helena, MT 59624
Venue
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| Event Date |
Tue Jun 25 CST (over 5 years ago)
In your timezone (EST): Tue Jun 25 7:00pm - Tue Jun 25 7:00pm |
| Location | Helena, MT 59624 |
| Region | Americas |
Details
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
Do you know that a trust is a separate legal entity from the grantor and trustee? Many individuals treat trust property like their own property – which is not correct. The trust is a separate legal entity, even if it uses the grantor’s Social Security number. Opening a deposit account for, or lending to, a trust is completely different from providing those services to an individual. A loan may not be valid against the trust, and your institution could be held liable for the funds in the account if a mistake is made.
This webinar will explain the proper documentation and information that must be obtained before opening accounts for trusts, including determining who is authorized to transact business. It will also clarify the necessary loan documents you must obtain and everything else that must be understood before lending to trusts, including determining whether the trust has the power to borrow money and/or pledge trust assets.