Demystifying Trusts: A Guide to Establishing Deposit Account and Loans

Tuesday, October 10th, 2023 10:00 am - 12:00 pm CT

A Program

Click Here to register for program $279.00

Click Here to register for program and receive recording $419.00

This webinar will provide attendees with information on doing business with trusts, including the best practices in establishing deposit account and loan relationships.

Financial institutions are required to complete transactions for customers who have created revocable and irrevocable trusts. To protect your financial institution's interests when using these documents, it is imperative to understand the basic do's and don'ts. This presentation will provide financial institution personnel with best practices to use when dealing with these complex legal documents. It does not provide detailed information on any particular state's laws.

  • Differences between revocable and irrevocable trusts
  • What it means when a trust is called a "living trust" versus a "testamentary trust"
  • How to establish the relationship, including changing titles and performing transactions (loans or deposits)
  • What are the issues when there are co-trustees for the trust
  • When can a successor trustee do business for the trust
  • The relationship between the power of attorney documents and the trust documents
  • Trusts as safe deposit box holders
  • What happens when a trust co-owns an account with another trust (or person)

Instructor Bio

Terri D. Thomas, JD is the Director of the Kansas Bankers Association Legal Department, which specializes in providing compliance and legal assistance to Kansas banks.