When a Depositor Dies: Actions to Take, Mistakes to Avoid
Do you know how to handle the death of a depositor? What are the implications? What documentation is required? Is there a beneficiary? How and where are assets transferred? What about tax reporting, insurance, estates, account changes, businesses, etc.? Attend this webinar to get the lowdown on deftly dealing with a depositor’s death.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Report taxes to the IRS after death
- Avoid estate setup mistakes
- Define “knowledge” of death and its requirements
- Explain accounts that have will bypass rights at death
- Distinguish formal estates and small estate affidavits
- Manage check issues
- Unpack specialty accounts like UTMAs, guardianships, Social Security representative payees
- Help business accountholders take appropriate action when a key player dies
- Explain to accountholders what happens regarding insurance after death
WEBINAR DETAILS
Your accountholder is deceased. Now what? This webinar will explain how different legal ownerships have different results at death. Not every account has a beneficiary designation, so what comes next? You’ll learn about rights at death on accounts and how to transition ownership to an estate when appropriate. The program will also cover insurance changes, IRS reporting requirements, handling checks at death, and dealing with business accounts after death.
WHO SHOULD ATTEND?
This informative session will benefit branch operations personnel, compliance staff, trainers, branch managers, and new account representatives.
