Webinar: Your Depositor Has Died: Actions to Take, Mistakes to Avoid
When a depositor dies, your credit union needs to act appropriately and promptly to avoid liability. This webinar will thoroughly explain the proper procedures and processes you should follow when a depositor dies.
About This Session:
This webinar will cover the following topics:
- Can the credit union pay checks after the death of the member?
- Who can negotiate a check made payable to the deceased member?
- How should survivor accounts such as payable-on-death and joint accounts be handled?
- What if the deceased member was the sole account owner?
- Can the decedent's accounts be setoff for debts owed to the credit union?
- How should the credit union deal with the decedent's estate?
- What if a probate estate is never opened?
- Should you review obituaries?
- When can Social Security funds be reclaimed from the credit union?
- TAKE-AWAY TOOLKIT including sample procedures for handling accounts of deceased members
Who Should Participate:
All deposit operations personnel, collectors, member service reps, compliance personnel and managers
About the Presenter:
Elizabeth Fast, JD & CPA, Spencer Fane Britt & Browne LLP
Elizabeth Fast, Esq., is a partner with Spencer Fane Britt & Browne LLP, where she specializes in the representation of financial institutions and acts as head of the firm's training division. Before joining Spencer Fane, she was General Counsel, SVP and Corporate Secretary of a $9-billion bank with more than 130 branches, where she managed all legal, regulatory and compliance functions. Fast is a member of the Missouri State Banking Board by appointment of the governor.