Thursday
Jun 27
2019

Living, Grantor & Family Trust Accounts: Common Problems in Account Opening & Lending

Registration Options & Pricing

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Live Webinar Includes

  • One connection to the Live Webinar
  • Handout and Take-Away Toolkit
  • Available on Desktop, Mobile & Tablet
  • Presenter’s Contact Info for Follow-Up

Recorded Webinar Includes

  • Recording of the Live Webinar
  • Available 6 business days following Live date
  • Available for 6 months following Live
  • Handout and Take-Away Toolkit
  • Available on Desktop, Mobile & Tablet
  • Free Digital Download, yours to keep
  • Share link with anyone at your credit union
  • Presenter’s contact info for follow-up
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9:00 am – 10:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET

Do you know that a trust is a separate legal entity from the grantor and trustee? Many individuals treat trust property like their own property – which is not correct. The trust is a separate legal entity, even if it uses the grantor’s Social Security number. Opening a deposit account for, or lending to, a trust is completely different from providing those services to an individual. A loan may not be valid against the trust, and your institution could be held liable for the funds in the account if a mistake is made.

This webinar will explain the proper documentation and information that must be obtained before opening accounts for trusts, including determining who is authorized to transact business. It will also clarify the necessary loan documents you must obtain and everything else that must be understood before lending to trusts, including determining whether the trust has the power to borrow money and/or pledge trust assets.

Attendance certificate provided to self-report CE credits.

HIGHLIGHTS

  • Differences between living trusts, grantor trusts, family trusts, revocable trusts, testamentary trusts, and business trusts
  • Who are the parties in a trust and what actions are they authorized to take?
  • Should you require the entire trust agreement or only a certification of trust?
  • If the trust agreement authorizes the trust to borrow money, can the trust guarantee a beneficiary’s loan?
  • If there are multiple trustees, must all trustees sign, or can only one trustee sign on behalf of the trust?
  • When can an individual’s Social Security number be used for the trust?

  • TAKE-AWAY TOOLKIT
    • Checklist for opening a deposit account for a trust
    • Checklist for lending to a trust
    • Employee training log
    • NEW – Interactive quiz

DON'T MISS THIS RELATED WEBINAR!

"Handling Power of Attorney & Living Trust Documents on Deposit Accounts & Loans"
Monday, March 25, 2019

All webinars are available for six months after broadcast

WHO SHOULD ATTEND?

This informative session will be useful to both deposit and loan operations, including new accounts personnel, loan documentation staff, loan officers, tellers, attorneys, compliance personnel, auditors, and managers.

 

NOTE:  All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.

MEET THE PRESENTER

Spencer Fane LLP
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