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Contacting POD beneficiaries

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Would it be smart to seek out beneficiaries and/or successor custodians to reduce your abandoned property burden...or would that create a GLBA privacy violation?

It’s not a GLBA violation to tell the beneficiaries that the money is theirs. Although you have no legal duty to go looking for beneficiaries, you have correctly suggested that doing so can reduce your abandoned property hassles.


Learn more about John Burnett’s When a Customer Dies webinar.

First published on 09/12/2021

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