When a Depositor Dies: Next Steps

On-Demand Webinar:
StreamedDec 21, 2023Duration90 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

Can checks still be negotiated after an accountholder dies?

Who can access the deposit accounts? What changes can be made?  What about taxes, Social Security, setoff, and dealing with the family? If you don’t have all the answers, this is the webinar for you.
 
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
  • Identify who is entitled to the account upon the death of the accountholder
  • Understand how to deal with the deceased’s estate or relatives
  • Explain when checks and other withdrawals can be paid after the accountholder’s death
  • Define who can negotiate a check made payable to the deceased accountholder
  • Determine when the deceased’s accounts can be set off for debts owed to your institution
  • Explain when and how federal benefit payments, such as Social Security, can be reclaimed

WEBINAR DETAILS

When one of your depositors dies, your institution must act promptly and appropriately to avoid any liability. The federal government can reclaim certain benefit payments that were deposited after an accountholder’s death – even if those funds are no longer in the account. (Obviously, any transaction after the accountholder’s death was conducted by someone else.) This webinar will thoroughly explain the proper actions that should be taken when a depositor dies, share best practices used by other institutions, and cover the legal requirements and practical issues.

WHO SHOULD ATTEND?

This informative session will be useful to all deposit operations personnel, collection personnel, service representatives, compliance staff, auditors, attorneys, and managers.

TAKE-AWAY TOOLKIT

  • Sample procedures for handling the accounts of deceased accountholders
  • Guide to federal government ACH payment reclamations
  • 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

Elizabeth Fast, JD & CPAElizabeth Fast
Spencer Fane LLP
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