Opening Fiduciary Accounts

Your account holder, the federal government or the court has named someone legally to act on his or her behalf. Now what? What can these caregivers and fiduciaries do? What supporting paperwork must each bring?

During this program we will review the set-up, documentation and legal issues involved in these high- risk accounts. You will learn how to style these accounts and get the signature card perfect every time.

Covered Topics

  • Different types of power of attorney documents
  • What an attorney-in-fact can and can’t do
  • Adding an attorney-in-fact to an account
  • When do POAs cease
  • Guardianships—court ordered accounts and documentation
  • Do’s and don’ts on guardianships
  • How to set up guardianship accounts
  • Estate Accounts: Letters of Testamentary and Letters of Administration
  • Answers to common questions on how to set-up and handle accounts at death
  • Executors, Guardians, Power of attorney and other caregivers—authority, liability and paperwork
  • Social security representative payee and veteran accounts
  • Government benefit accounts signature card set up
  • CIP requirements on all fiduciary accounts

Who Should Attend?

This informative session will be useful for new account representatives, customer service representatives, member service representatives, branch administration, branch operations, branch managers, personal bankers, compliance, BSA and anyone who opens new accounts.