Opening Formal Trust Accounts
TELEPHONE OR WEBCAST SEMINAR

2:00-3:30 PM Central Time

In recent years banks have been flooded with formal trust accounts and requests to transfer title of checking and savings accounts into living trusts, family trusts, children's trusts and many types of outside formal trust arrangements.  In the past, formal trusts were considered accounts handled by Trust Departments with the bank as the trustee.  This practice still exists but many Americans have begun opening trusts in which they themselves are the trustees. These accounts are opened at branches of financial institutions regardless of whether the bank has a trust department or not.  This seminar will take a look at the bank's responsibility in setting up these accounts and the potential consequences "down the line" as the first line of trustees pass away.

WHAT YOU WILL LEARN:

• Formal trusts versus informal trusts
• Why are customers choosing these trusts arrangements?
• Who are the "players" in the trust?
• What kind of styling do we use with these types of accounts?
• How do we transfer title to the trust?
• How is the signature card filled out?
• What documents do we keep?
• What happens when the first trustee dies?
• When is a trust revocable and irrevocable and what does that mean to the financial institution?
• How trusts are insured under new FDIC rules
• Amending trusts, revoking trusts and ending trusts
• And much, much more

WHY SHOULD YOU PARTICIPATE?

This session is a cost-effective way to train your staff in opening and addressing formal trust accounts. You may train as many individuals as you like for one set price.  There will be no travel costs, no time lost from work and no one will be required to leave the institution.

WHO SHOULD ATTEND?

This informative session is directed to all frontline bankers who open accounts including branch managers, customer service representatives, personal bankers, new account representatives, training personnel, marketing and supervisors of these areas.