Fiduciary Accounts: Soup to Nuts
Learn the fundamentals of opening, maintaining and managing fiduciary accounts. This topic will focus on the truly collaborative nature involving multiple parties each with their own roles and responsibilities. The topics will include a description and identification of the various types of fiduciary accounts their differences and commonalities. Fiduciary accounts have one thing in common. They are all controlled by some form of documentation. Obtaining a clear understanding of the document’s pertinent provisions is an essential first step for all of the involved parties. This topic will teach you how to analyze, understand and quickly recognize the controlling document’s most important provisions and relevance.
Who should attend?
- What Is a Fiduciary Account and When Is It Needed?
- Savings or Deposit Account the Funds of Which Are Owned by One Party but Are Managed by Another (Such as an Agent, Bank, or Trustee) for the Owner's, or a Beneficiary's, Benefit
- Typical Examples–Probate Estate–Trust–Custodial Account–Escrow AccountIdentification of the Primary Parties Involved, Their Functions and Responsibilities
- Grantor, Settlor, Trustor
- BeneficiaryFiduciary Documentation
- What Are Some of the Common Elements in Fiduciary Documents?
- How to Recognize and Understand Key Provisions and Their Practical Application
- Trust Certification
- Power of Attorney
- Flow ChartsRoles and Responsibilities – Collaboration Required
- Investment Advisor
- Insurance Agent
- Probate Court
- Reporting and Compliance Requirements
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