Opening Fiduciary Accounts: Documenting Existence and Authority

Presented by:
Ken Golliher

A "fiduciary" is a person who stands in a special position of trust to another person. The fiduciary's responsibilities are readily translated into legal requirements that fiduciaries must fulfill, always being certain that their actions are well documented and bear in mind the best interest of the person on whose behalf they are acting.

Oftentimes, a fiduciary such as a guardian, a custodian, an attorney-in-fact, or a personal representative is required to open bank accounts and handle funds as a part of that fiduciary relationship. This program focuses on those occasions.

The presentation addresses:

customer identification programs,

IRS requirements for TIN certification,

customer due diligence and enhanced due diligence, and

any applicable consumer protection laws.

Program content does not focus on the laws of a particular state, but it does discuss the following account types:

UTMA accounts,

Decedent's estates,

Guardianship estates,

Grantor trusts,

Irrevocable trusts,

Representative payees,

Escrows, and

IOLTA accounts.

Who Should Attend?
The expected audience is frontline personnel who routinely open deposit accounts for fiduciaries and those who supervise this function. Calculate the per person costs for providing every one of your staff members who opens new accounts with a professional training program. (Remember, when you attend BOL webinars, your employees do not all have to be available the day of the program - you can access it again for up to 30 days after the web cast.)

The program will also benefit those who audit or review the account opening process for quality control. Program content is at the basic or intermediate level. Program content does not reflect the laws of a particular state.

VIEW A 10 MINUTE SAMPLE
(requires Windows Media Player and IE).



CD-ROM includes:

• Complete presentation (including slides and audio)
• Written Materials
• Follow-up Q & A

You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.