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 best practices for dealing with these complex legal documents, including establishing the relationship, changing titles, and performing loan and deposit transactions. We’ll also cover what happens when the trust co-owns an account with another trust or person. This webinar does not provide detailed information on any particular state’s laws.
What You’ll Learn
- Revocable vs. irrevocable trusts
- Living trust vs. testamentary trust
- Issues when there are co-trustees for the trust
- When a successor trustee can do business for the trust
- Relationship between Power of Attorney and trust documents
- Trusts as safe deposit box holders
Who Should Attend
Financial institution employees involved with opening new accounts, deposit or loan documentation, and operations will find this webinar valuable.