BankerCollege

Working with relatives of an accountholder who has recently passed can be difficult and emotionally trying. The situation becomes more stressful when financial institution representatives are unsure of proper procedures to follow in various situations. 

Account representatives and bankers must be able to help address:

• Who has rights to the accountholder’s funds? 
• What documents are required? 
• How long can we continue to pay items after the accountholder has passed? 
• What is needed to establish an estate account? 
• What if someone needs access to important documents that are in the accountholder’s safe deposit box?

In this branch banking webinar, we will address these questions and more to give you the information you need to assist family members and representatives of the accountholder through this challenging time.

Areas of Focus in Training

• General best practices of probate vs.  non-probate assets
• In-depth review of documentation required to ensure funds are appropriately transferred or dispersed following the death of an accountholder
• Discussion of the effects on account titling, account ownership, transaction authority, deposit insurance and tax reporting requirements when an accountholder passes
• The roles of POAs, PODs, authorized signers and guarantors following the death of an accountholder
• Steps to take upon the death of a borrower

BONUS Materials

• Spreadsheet detailing be account type documentation required and account titling following the death of the accountholder
• Comparison of probate vs. non-probate assets