Minor Accounts In-Depth

Compliance Frontline & New Accounts Operations

On-Demand Webinar:

StreamedMay 14, 2024Duration90 minutes

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

See Registration Options

The signature card reads “Johnny Jones by Mother Jones.” What does that mean exactly?

Does Johnny have any rights to the funds in the account? Who has to endorse the checks? If you have ever been confused about a minor’s account, you are not alone! Clear the confusion cobwebs and get crystal clarity about how to deal with minor accounts. Gain the confidence you need to handle these (sometimes sticky) situations.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Determine who has authority over an UTMA
Understand when minors can own and have equal rights to an account
Explain which accounts minors have access to on their own
Distinguish between minor accounts and accounts held in trust for a minor
Describe the different types of minor accounts and their uses

WEBINAR DETAILS

There tends to be many questions surrounding minor accounts. When can a minor open an account? Is it required/prohibited to have an adult on the account as well? Can a minor withdraw from an account in their name? What if the custodian has not disbursed the UTMA funds and the minor is now 18? Confusion abounds with these and other questions. This webinar will sort out the truths from the myths and provide greater clarity and certainty for those establishing and maintaining these accounts.

WHO SHOULD ATTEND?

This informative session will benefit new accounts personnel, tellers, financial services representatives, auditors, and compliance staff.

TAKE-AWAY TOOLKIT

Model language for different types of minor accounts
Minor account cheat sheet
List of internet resources
Employee training log
Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
Attendance certificate provided to self-report CE credits

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

Presented By

Mary-Lou Heighes