POD Account Documentation, Compliance, Beneficiaries & Closing 2019 | Independent Bankers Association of Texas (IBAT) | 16 October 2019 |
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| Event Date |
Wed Oct 16 PDT (about 5 years ago)
In your timezone (EST): Wed Oct 16 3:00pm - Wed Oct 16 4:30pm |
| Region | All |
Details
Most financial institutions permit payable-on-death accounts. POD accounts are easy to open, but aren’t so easy when managing the compliance issues and funds distributions when the account owner dies. When an account has a POD designation, your institution must ensure that 1) the proper beneficiaries receive the account’s funds upon the account owner’s death and 2) the proper steps have been followed and the necessary information has been obtained before disbursement.
This webinar will explain every aspect of POD accounts, including proper account-opening documentation, information to obtain after the account owner dies, and how to distribute the funds. It will also address situations like when the POD beneficiary has predeceased the account owner or when your institution wants to set off the POD account for the deceased account owner’s debt.
Attendance certificate provided to self-report CE credits.
WHO SHOULD ATTEND?
This informative session will benefit all deposit operations personnel, account service representatives, tellers, compliance staff, auditors, attorneys, and managers.
Speakers
2019 Speaker
Elizabeth Fast, JD & CPA
Spencer Fane LLP