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Opening Fiduciary Accounts
(Presented By: Ken Golliher)
A "fiduciary" is a person who stands in a special position of trust to another person. The fiduciary's responsibilities are readily translated into legal requirements that fiduciaries must fulfill, always being certain that their actions are well documented and bear in mind the best interests of the person on whose behalf they are acting.  | WEBINAR TIME:
11:30AM - 1:30PM PT
12:30PM - 2:30PM MT
1:30PM - 3:30PM CT
2:30PM - 4:30PM ET |
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Oftentimes, a fiduciary such as a guardian, a custodian, an attorney-in-fact, or a personal representative is required to open bank accounts and handle funds as a part of that fiduciary relationship. This program focuses on those occasions.
The presentation addresses:
customer identification programs,
IRS requirements for TIN certification,
customer due diligence and enhanced due diligence, and
any applicable consumer protection laws.
Program content does not focus on the laws of a particular state, but it does discuss the following account types:
UTMA accounts,
Powers of attorney,
Decedent's estates,
Guardianship estates,
Grantor trusts,
Irrevocable trusts,
Representative payees,
Escrows, and
IOLTA accounts.
Who Should Attend?
The expected audience is frontline personnel who routinely open deposit accounts for fiduciaries and those who supervise this function. Calculate the per person costs for providing every one of your staff members who opens new accounts with a professional training program. The program will also benefit those who audit or review the account opening process for quality control. Program content is at the basic or intermediate level. Program content does not reflect the laws of a particular state.
The Speaker:
Ken Golliher is a principal with Pegasus Educational Services, LLC, a training firm headquartered in Louisville, Kentucky. He is an experienced banker with a unique ability to reduce complex legal concepts to plain English. He has explained the "why" and "how" of regulations to thousands of financial institution personnel and examiners. Ken's banking career began in 1972 and includes serving as a teller, commercial operations manager and as trust department legal counsel in a state and a national bank. For ten years he headed the education division of a regional consulting firm for financial institutions. He has served on the faculty of the LSU Graduate School of Banking, the OTS' Level I Compliance School and the FDIC's Advanced Consumer Protection School for examiners. He has presented seminars in more than 25 states and has served as an instructor at compliance schools sponsored by the Illinois, Indiana, Georgia, Kansas, Kentucky, Nebraska, Pennsylvania and Texas bankers associations. He is one of the moderators for the Bank Secrecy Act forum at http://www.bankersonline.com/
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888-229-8872