Financial institutions are required to complete transactions for customers who have created revocable and irrevocable trusts. To protect your financial institution’s interests when using these documents, it is imperative to understand the basic do’s and don’ts. This presentation will provide financial institution personnel with best practices to use when dealing with these complex legal documents.
The “Understanding Revocable and Irrevocable Trust Documents” has been approved for
2 CAMS credits. Credits are redeemable for Live attendance only. Users must connect to the streaming individually and enter their name and email for reporting purposes. Accreditation is valid for one year from the date of the event. To receive a certificate, email Streaming@OnCourseLearning.com.
- What are the differences between revocable and irrevocable trusts?
- What does it mean when a trust is called a “living trust” versus a “testamentary trust?”
- How does the financial institution establish the relationship, including changing titles and performing transactions (loans or deposits)?
- How many co-trustees does it take to bind the trust?
- When can a successor trustee do business for the trust?
- Can a power of attorney be used with a trust document?
- Can a trust own a safe deposit box?
- Can a trust co-own an account with another trust (or person)?
Who Should Attend
Financial institution employees involved with opening new accounts, deposit or loan documentation and operations.