Controlling the Risks of Power of Attorney Documents

Tuesday, October 3rd, 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

Financial institutions are required to complete transactions for customers involving Power of Attorney documents. 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.

This session will focus on the best practices that can be employed by banks rather than looking at any particular state's laws.

  • Relationships among the customer, the attorney-in-fact, and the financial institution
  • Difference between a durable and non-durable power of attorney
  • How does a financial institution determine if a power of attorney is general or limited
  • Steps must a financial institution take to protect itself when relying on a power of attorney
  • Language the financial institution should look for in the power of attorney document when completing a transaction for the attorney-in-fact
  • How is a power of attorney revoked and when is that revocation binding on the financial institution?
  • Transactions that create the greatest risks for financial institutions relying on power of attorney documents
  • What attorney-in-fact representations may a financial institution typically rely upon
  • How a financial institution should handle out-of-state powers of attorney

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.