When a Depositor Dies

What must be done after an accountholder dies? Can checks still be negotiated? Who can access the deposit accounts? What changes can be made? What about taxes, Social Security, setoff, and dealing with the family? If you don’t have all the answers, this is the webinar for you.

Learning Objectives

• Distinguish when checks can be paid after an accountholder’s death
• Define who can negotiate a check made payable to the deceased accountholder
• Identify who is entitled to the account upon the accountholder’s death
• Determine when the deceased’s accounts can be set off for debts owed to your institution
• Understand how to deal with the deceased’s estate or relatives
• Explain when Social Security funds can be reclaimed

It could happen today – a depositor dies. Your institution must act promptly and appropriately to avoid any liability. This webinar will thoroughly explain the proper actions that should be taken when a depositor dies and delve into the best practices used by other institutions. Legal requirements and practical issues will be addressed as well.