Event Calendar

Wednesday, May 18, 2022

Webinar - Deposit Ops Series: Handling Trusts & Other Fiduciary Accounts

Start Date: 5/18/2022 9:00 AM MDT
End Date: 5/18/2022 10:30 AM MDT

Location:
United States 

Opening a deposit account for a trust is substantially different – and riskier – than opening an account for an individual.  Although many people inappropriately treat trust property as their own individual property, your financial institution must recognize the trust as a separate legal entity from the individual.  Otherwise, trust beneficiaries may claim that your financial institution should have known that the trustee was using the deposit account for his/her individual purpose or otherwise in breach of his/her fiduciary duty. 

This webinar will explain everything you need to know about opening trusts and other fiduciary accounts, including proper account documentation, authorization requirements, and red flags.  In addition, you’ll learn how to reduce the risk of loss when dealing with trusts and other fiduciary accounts.


 

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