Controlling the Risks of Power of Attorney Documents

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.

Covered Topics

• 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

Who Should Attend
Financial institution employees involved with opening new accounts, deposit or loan documentation and operations will find this seminar very useful.

Instructor
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. Thomas has worked with financial institutions for over thirty-nine years in various capacities. Most notably, she served for fourteen years as in-house legal counsel and trust officer for Bank of America and its Kansas predecessors. She has also served as a trust department manager and branch manager. Receiving her Bachelor of Arts degree from Kansas State University in 1985, Thomas continued her education at Washburn University School of Law and obtained her Juris Doctor in 1988. She has served as an Adjunct Professor at Washburn University School of Law in Topeka, Kansas and the University of Kansas School of Law in Lawrence, Kansas, and is a frequent seminar presenter for financial associations in the Midwest.

• Registration Options
  Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts – $279
• Available Upgrades:
  • 12 Months OnDemand Playback + $110
  • 12 Months OnDemand Playback + CD  + $140
  • Additional Live Access + $85 per person