eSchool, Recorded, Live Online
Fiduciary & Beneficiary Relationships eSchool 2024
Recording Access Availability: October 2, 2024 to December 31, 2026
THIS ESCHOOL IS AVAILABLE TO TRAINING BUNDLE USERS AT NO ADDITIONAL COST.
Navigating trust, estate, minor, and deceased accounts can be fraught with legal implications and operational challenges.
Fiduciary & Beneficiary Relationships eSchool is a beacon for frontline and branch staff navigating these complex waters. Designed to empower your team with the knowledge to manage intricate accounts confidently, this eSchool is your key to minimizing risk and enhancing member trust.
Staying ahead means continuously sharpening your skills — especially in managing high-risk fiduciary accounts. This eSchool is tailored to equip your staff with the expertise to manage complex account types with precision and care.
Transform the way your credit union manages the most complex accounts. Equip your team with the knowledge to limit risk, foster member trust, and ensure operational excellence.
Who should attend
This eSchool is beneficial for operations staff, compliance staff, frontline staff, and branch staff.
Sessions
Overview of Uniform Laws Governing Fiduciary and Beneficiary Relationships
Speaker: Gretchen Jones
Credit Union staff may encounter many types of fiduciary and beneficiary relationships in the course of dealing with members. Attorney Gretchen Jones will provide an overview of Uniform Laws that govern these types of relationships as well as a more in-depth look at the Uniform Probate Code and its implications for credit unions. In addition to the Probate Code, we will discuss:
- Transfers to Minors
- Powers of Attorney
- Protective Arrangements
- Trusts
- Multiple Party Accounts
Understanding Fiduciary and Beneficiary Relationships Commonly Seen in the Credit Union
Speaker: Gretchen Jones
Please join us for this session as attorney Gretchen Jones explains how several types of fiduciary and beneficiary relationships, sometimes used by our members, are to be handled by credit union staff. It is critical that staff understand both the practical and legal implications of these fiduciary relationships so they know who they can speak with about the accounts, who they can transact for, and how to properly set-up the accounts to establish the fiduciary or beneficiary relationship in the first place. The following forms of relationships often create confusion and result in commonly asked questions by staff as they work with these types of relationships, including:
- Minors’ accounts
- Powers of Attorney
- Guardians / Conservators
- Social Security Representative Payees
- Agency / Convenience accounts
Working with Trusts & Trust Accounts
Speaker: Gretchen Jones
Members that have trusts and utilize trust accounts can often create confusion for credit union staff wondering who they can transact for, who owns the funds, and who can request changes. These types of trust fiduciary relationships affect account set-up, forms, transaction processing, and more. Attend this session as attorney Gretchen Jones explains how these trust relationships should be handled by staff, as well as the legal and practical implications for your credit union.
- Trusts
- Trust accounts
Working with Estates and Managing Deceased Members’ Accounts
Speaker: Gretchen Jones
Session Description: During those difficult times for our deceased members’ families, we can provide compassion, sympathy, and of course proper handling of the decedent’s accounts at the credit union to help in their time of need. To ensure we expedite the process and follow legal parameters established by wills and estates; join attorney Gretchen Jones as she explains how to properly handle deceased members’ accounts and know who you are to provide information for, transact for, and how to update the credit unions records to record the death of a member.
- Deceased members
- Estates
- Other legal considerations working with deceased members’ accounts