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Issues with Deceased Customers
(Presented By: Mary Beth Guard and John Burnett)
Your customer is deceased. Now what?
| WEBINAR TIME:
11:30 - 1:30PM PT
12:30 - 2:30PM MT
1:30 - 3:30PM CT
2:30 - 4:30PM ET |
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When a customer passes away, your financial institution may face a number of legal issues relating to the decedent's account. In this program, we examine how a customer's death impacts deposit accounts and CDs.
This webinar will address:
A bank's authority for paying checks after customer's death
Interest earned after date of customer's death, and how to handle it:
Impact of the death of a joint tenant;
Practical issues on POD accounts
What happens when the decedent's account is sole ownership
Restyling joint accounts after one party has died
Checks to be deposited after death made payable to the deceased person
Automatic termination of powers of attorney
Treasury check and Treasury deposit matters
Considerations for deciding whether to check obituaries
Internal controls/dormancy issues
Flagging accounts and safe deposit boxes
Payment of funeral expenses from an individual account owned by a decedent
Privacy issues -- releasing information about the decedent's account to third parties. Where do you draw the line?
What do you mark as the reason when you return checks on a decedent's account after the grace period for paying them?
How the death affects:
-sole proprietorship accounts
-accounts on which the individual was an authorized signer (including entity accounts)
-trusts on which the individual was grantor or trustee,
-safe deposit boxes which they owned as single owners, but had deputies on
Authority of authorized, convenience and agent signers
ACH items and notice of death
Returned mail
The Speakers:
Mary Beth Guard currently serves as Executive Editor of BankersOnline.com and CEO of Glia Group, Inc., Mary Beth has had a long and distinguished career, graduating from law school in 1980. She has focused her work exclusively on the banking industry since 1984. Previously, Mary Beth served as EVP/General Counsel and COO for the Oklahoma Bankers Association, EVP of Specialized Services for Thomson Financial Publishing, and General Counsel for the Oklahoma State Banking Department. Mary Beth is on the advisory board for Bankers' Hotline and Compliance Action, as well as on the editorial board for ABA Bank Compliance magazine. She has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. In addition, Mary Beth has written more than a thousand banking-related articles and is a BOL Guru.
John Burnett is a 1979 alumnus of the ABA National Compliance School, and served on its faculty for several years. He graduated with honors with the Class of 1990 from ABA's Stonier Graduate School of Banking. He is also a graduate of the BAI's and the Massachusetts Banker Association's Schools of Banking.
He joined Cape Cod Bank and Trust Company in 1971 and assumed his role as Compliance Officer in 1976. He also served as corporate secretary and secretary of CCBT's Board of Directors, as well as Clerk of the bank's holding company. John joined Glia Group, Inc., and became a part of the BOL Team in June, 2004.
Mr. Burnett is a former member chair of the Massachusetts Bankers Association Legal and Regulatory Compliance Committee, and of the American Bankers Association Compliance Executive Committee and NCS/NGCS Advisory Board. He served on ABA's Truth in Savings Task Force, and has served on several ABA and Massachusetts Bankers seminar panels.
More information...
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888-229-8872