During this webinar, you will learn how to answer your adult account holder's questions on how to set up accounts for grandchildren, for college, and many other reasons to set up minor accounts.
We will review the basic legal ownerships you may offer for your minor account holders. We will talk about how to transition them into adult accounts. We will look at do’s and don’ts of account card set up for minors.
Topics Will Include:
- All the types of legal ownership for minors: UTMA, CESA, joint accounts, guardianships, social security representative payees and child actor trusts
- Issuing debit cards to minors
- Can a minor negotiate checks made payable to him or her
- Old stylings like "minor by" that can give big headaches
- Can you require two signatures on minor accounts? Can you let a minor sign a contract?
- What happens when the minor dies on an account? What happens when the adult passes away?
- Can minors take over the account at a certain age?
- Hotspots and troubling issues when you open accounts for minors
Who Should Attend:
This informative session will be useful for new account representatives, customer service representatives, member service representatives, branch administration, branch operations, branch managers, personal bankers, compliance, BSA and anyone who opens new accounts.
Instructor
Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures.
She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 30+ years of combined teaching and banking experience.