POD Account Documentation,
Compliance, Beneficiaries & Closing
Webinar OR Recorded Webinar + Free Digital Download
Wednesday, October 16, 2019
12:00 pm – 1:30 pm Pacific
1:00 pm – 2:30 pm Mountain
2:00 pm – 3:30 pm Central
3:00 pm – 4:30 pm Eastern
Most financial institutions permit payable-on-death accounts. POD accounts are easy to open, but aren’t so easy when managing the compliance issues and funds distributions when the account owner dies. When an account has a POD designation, your institution must ensure that 1) the proper beneficiaries receive the account’s funds upon the account owner’s death and 2) the proper steps have been followed and the necessary information has been obtained before disbursement.
This webinar will explain every aspect of POD accounts, including proper account-opening documentation, information to obtain after the account owner dies, and how to distribute the funds. It will also address situations like when the POD beneficiary has predeceased the account owner or when your institution wants to set off the POD account for the deceased account owner’s debt.
- What information should be obtained about the POD beneficiary at account opening?
- What rights does the POD beneficiary have to the account before the account owner’s death?
- Does the POD beneficiary need to consent to the pledge of the account by the account owner?
- What documentation is needed before you can pay the funds to the POD beneficiary?
- What happens if the POD beneficiary predeceases the account owner?
- Does the deceased account owner’s estate have any rights to the POD account?
- Does your institution have a right of setoff against the POD account for the deceased owner’s debts?
- TAKE-AWAY TOOLKIT
- Checklist of items to obtain when opening a POD account
- Items to obtain when distributing funds to POD beneficiaries
- Employee training log
- Interactive quiz
WHO SHOULD ATTEND?
This informative session will benefit all deposit operations personnel, account service representatives, tellers, compliance staff, auditors, attorneys, and managers.
DON’T MISS THIS RELATED WEBINAR!
When a Depositor Dies: Legal Requirements, Practical Issues & FAQs
on Tuesday, October 8, 2019
Please note: The live webinar option allows you to have one internet connection (from a single computer terminal). You may have as many people as you like listen and watch from your office computer.
ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane 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.
THREE REGISTRATION OPTIONS
Note: All materials are subject to copyright. Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.
- LIVE WEBINAR
The live webinar option allows you to have one internet connection from a single computer terminal. You may have as many people as you like listen and watch from your office computer. Registrants receive a website address and passcode that allows entrance to the seminar. The session will be approximately 90 minutes, including question and answer sessions. Seminar materials, including instructions, passcode, and handouts will be emailed prior to the broadcast. You will need the most current version of Adobe Reader available free at www.adobe.com.
- RECORDED WEBINAR + FREE DIGITAL DOWNLOAD
Can’t attend the live webinar? This option provides a recording of the live event, including audio, visuals, and handouts. We even provide the presenter’s email address for follow-up questions. You will receive an email with the recorded webinar link, which can be viewed anytime 24/7, beginning 6 business days after the webinar. You will also receive instruction on how to download a free digital copy of the webinar to your PC, which you may keep and use indefinitely.
The recorded webinar may ONLY be ordered for 6 months following the live webinar. In addition, the download must be completed within 6 months of the live webinar date.
- BOTH LIVE WEBINAR & RECORDED WEBINAR + FREE DIGITAL DOWNLOAD
Options 1 and 2 described above.
AFFORDABLE, PROFESSIONAL TRAINING, WHEN AND WHERE YOU CHOOSE