Whose Funds Are They Anyway? Dealing With Fiduciary Accounts 2022 | ProBank Austin | 17 August 2022 | Webinar

This webinar will walk you through what documents to obtain and how to properly style the account. We also discuss who has ownership and transaction authority in order to ensure that you are dealing with the right person when it comes to access and control over the funds.

Here is what you will learn:
• What are the types of situations where a fiduciary will be appointed for an individual?
• How should we style the account?
• What are the CIP and IRS requirements for opening a fiduciary account?
• Who has authority to transact business on the account?
• What type of documentation do we need to obtain when a fiduciary is involved?
• Does the bank have any responsibility to monitor these accounts?

Here are the specific account types and topics we will cover:
• Powers of Attorney
• Grantor Trust- Revocable Living Trusts
• UTMA Accounts
• Court appointed Personal Fiduciary Accounts
• Social Security Representative Payee Accounts
• Estate Accounts
• Valid Trusts

This webinar is designed for all bank personnel opening new accounts, including those in audit, compliance, and operations. Those with training responsibilities will also ben­efit from this valuable webinar.

2022 Speakers

K. Natalie Straus, CRCM
Vice President and Senior Consultant, ProBank Austin