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When a Depositor Dies: Next Steps & Best Practices

Tue, Oct 10, 2017

It could happen today – one of your depositors dies. Your credit unoin must act appropriately and promptly to avoid liability. This webinar will thoroughly explain the proper steps your credit union should follow when a depositor dies, including best practices used by other institutions. Join us to learn the legal requirements and practical issues when a depositor dies.

Continuing Education: Attendance verification for CE credits upon request

Register for Wednesday, Nov. 10 webinar to be held 3:00-4:30 pm.

HIGHLIGHTS

  • Can you pay checks after the death of the accountholder?
  • Who can negotiate a check made payable to the deceased accountholder?
  • Who is entitled to the account upon the death of the accountholder?
  • Can the decedent's accounts be setoff for debts owed to your institution?
  • How should you deal with the estate or relatives of the deceased?
  • When can Social Security funds be reclaimed from your institution?

  • TAKE-AWAY TOOLKIT
    • Sample procedures for handling accounts of the deceased
    • Guide to federal government ACH payment reclamations
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key