Handling Powers of Attorney In Depth
A power of attorney grants authority, but it also creates risk. Know what to accept, what to question, and when to act. This webinar will give employees a step-by-step framework for handling powers of attorney, managing account access, recognizing termination events, and identifying warning signs of elder fraud and financial abuse.
KEY WEBINAR TAKEAWAYS
- Definitions and purpose
- Statutory versus non-statutory POA
- Dissecting the document to see what a POA enables the agent to do and not do
- Do you have to take a POA?
- When and how a POA can go on a trust, an IRA, and a business account
- Which accounts are a hard “no” for POAs
- Breakdown of the workflow surrounding POAs
- Red flags for identification of fraud on POAs
BONUS MATERIALS
- New Accounts Handbook
WEBINAR DETAILS
When your accountholder legally designates an agent through a power of attorney, what does that mean for you? This presentation will be a step-by-step look at how to handle power of attorney from entry into the branches to placement on the accounts. Learn the critical dos and don’ts on using POAs on all types of accounts and ownership. Learn when POAs activate and when they terminate. And most importantly, how to watch for red flags when a power of attorney is being abused for elder fraud and other crimes.
