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Webinar Calendar

Our League webinars offer training on topics for all aspects of credit union operations. You'll have the choice to participate in the live webinar only, purchase the recorded webinar or both. Included with all League webinars are the training log, quiz and answer key. 

Download a printable list of upcoming 2019 webinars >>

From time-to-time our webinar calendar will also show webinars from system partners. This is done as a courtesy to further your learning options and you should contact the system partner for details on those webinars.


Living, Grantor & Family Trust Accounts: Common Problems in Account Opening & Lending

This webinar will explain the proper documentation and information that must be obtained before opening accounts for trusts, including determining who is authorized to transact business. It will also clarify the necessary loan documents you must obtain and everything else that must be understood before lending to trusts, including determining whether the trust has the power to borrow money and/or pledge trust assets.

Jun 27, 2019 02:00 PM   -­­  Jun 27, 2019 03:30 PM
CT
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Type of Event
Webinar

Who Should Attend
  • Member Services
  • Lenders
  • Webinars
  • Compliance

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Description

Do you know that a trust is a separate legal entity from the grantor and trustee? Many individuals treat trust property like their own property – which is not correct. The trust is a separate legal entity, even if it uses the grantor’s Social Security number. Opening a deposit account for, or lending to, a trust is completely different from providing those services to an individual. A loan may not be valid against the trust, and your institution could be held liable for the funds in the account if a mistake is made.

This webinar will explain the proper documentation and information that must be obtained before opening accounts for trusts, including determining who is authorized to transact business. It will also clarify the necessary loan documents you must obtain and everything else that must be understood before lending to trusts, including determining whether the trust has the power to borrow money and/or pledge trust assets.

Learning Objectives

  • Differences between living trusts, grantor trusts, family trusts, revocable trusts, testamentary trusts, and business trusts
  • Who are the parties in a trust and what actions are they authorized to take?
  • Should you require the entire trust agreement or only a certification of trust?
  • If the trust agreement authorizes the trust to borrow money, can the trust guarantee a beneficiary’s loan?
  • If there are multiple trustees, must all trustees sign, or can only one trustee sign on behalf of the trust?
  • When can an individual’s Social Security number be used for the trust?

Speaker

Elizabeth Fast, JD, CPA, Spencer Fane LLP

Investment

$259.00

Live and recorded webinar, handouts, quiz with answer key and training log are included.