Power of Attorney & Living Trust Documents

Everyday financial institutions are required to complete transactions for customers that involve Power of Attorney or Living Trust documents. To protect the financial institution's interests when using these documents, it is imperative to understand the basic do's and don'ts. This two hour presentation is designed to provide financial institution personnel with the best practices that can be used in dealing with these complex legal documents.

This two-hour course will answer the following questions:

Powers of Attorney

  • What is the relationship between the customer, the attorney-in-fact and the financial institution?
  • What steps must a financial institution take to protect itself when relying on a Power of Attorney?
  • What language should the financial institution look for in the Power of Attorney document when completing a transaction for the attorney-in-fact?
  • How is a Power of Attorney revoked and when is that revocation binding on the financial institution?

Living Trusts

  • How to establish the financial institution 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 will find this seminar very useful in handling daily day-to-day transactions.