When a Depositor Dies: Next Steps & Best Practices

Regular price $258.48 (tax included)

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It could happen today – one of your depositors dies. Your institution must act appropriately and promptly to avoid liability. This webinar will thoroughly explain the proper steps your institution should follow when a depositor dies, including best practices used by other institutions. Join us to learn the legal requirements and practical issues when a depositor dies.

HIGHLIGHTS

  • Can you pay checks after the death of the accountholder?
  • Who can negotiate a check made payable to the deceased accountholder?
  • Who is entitled to the account upon the death of the accountholder?
  • Can the decedent’s accounts be setoff for debts owed to your institution?
  • How should you deal with the estate or relatives of the deceased?
  • When can Social Security funds be reclaimed from your institution?
  • TAKE-AWAY TOOLKIT
    • Sample procedures for handling accounts of the deceased
    • Guide to federal government ACH payment reclamations
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

WHO SHOULD ATTEND?

This informative session will be useful to all deposit operations personnel, collectors, service representatives, compliance staff, attorneys, and managers.

ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane LLP

Elizabeth Fast is a partner with Spencer Fane LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.

Originally recorded on November 9, 2017.

Recorded webinar link is available until May 31, 2018.

Free Digital Copy included with purchase to download and view beyond link expiration date.

Price includes sales tax.