It could happen today — one of your depositors dies. What should you do? Your credit union needs to act appropriately and promptly to avoid liability. This webinar will thoroughly explain the proper procedures and processes your credit union should follow when a depositor dies.
- Can the credit union pay checks after the death of the member?
- Who can negotiate a check made payable to the deceased member?
- How should survivor accounts such as payable-on-death and joint accounts be handled?
- What if the deceased member was the sole account owner?
- Can the decedent’s accounts be setoff for debts owed to the credit union?
- How should the credit union deal with the decedent’s estate?
- What if a probate estate is never opened?
- Should you review obituaries?
- When can Social Security funds be reclaimed from the credit union?
- TAKE-AWAY TOOLKIT
- Sample procedures for handling accounts of deceased members
Who Should Attend:
This informative session will be useful to all deposit operations personnel, collectors, member service representatives, compliance personnel, and managers. Attendance verification for CE credits provided upon request.
About the Presenter: Elizabeth Fast, JD, CPA, Spencer Fane Britt & Browne, LLP
Elizabeth Fast is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.
|Over $75 million
|$7 - 75 million
|Under $7 million
Cancellation Policy: Sorry, no cancellations are allowed after connecting instructions and handout materials are distributed to registrants. Substitutions are welcomed and encouraged.
Please note: The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone.