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Webinar: New Accounts Series: Opening Accounts for Minors: Ownership, Access & Transactions

Event Info

When

October 22nd, 2015 2:00 PM   through   3:30 PM


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There are several ways to establish accounts for minors – each with its own specific requirements. There are accounts established under the Uniform Transfers to Minors Act (UTMA), blocked or court-ordered accounts, informal trust accounts (in trust for), accounts held by a representative payee, and accounts for minors themselves. This webinar is designed to provide the tools you need to establish and maintain these accounts properly, including who can open, transact, and close these accounts.

Account ownership is dictated by state law, but there are many common areas that all financial institutions should know when dealing with minors. From CIP requirements to debit cards – your most frequently asked questions regarding minor accounts will be answered.

HIGHLIGHTS

  • What types of minor accounts are there?
  • What are the rules for UTMAs and Coverdell ESAs?
  • What is the deposit insurance coverage when minors are owners, co-owners, and beneficiaries?
  • Can UTMA funds be paid directly to the minor at age 21?
  • How old does a minor have to be to open an account?
  • What happens when a minor dies?

TAKE-AWAY TOOLKIT

  • Minor account type chart
  • Internet resources
  • Employee training log
  • Quiz you can administer to measure staff learning and a separate answer key

Attendance verification for CE credits provided upon request.

WHO SHOULD ATTEND?

This informative session will benefit new account staff; frontline staff; compliance specialists, and those handling decedent accounts.

Please note:  The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered.  You may have as many people as you like listen from your office speaker phone.

ABOUT THE PRESENTER – Mary-Lou Heighes, CUCE, Compliance Plus, Inc.

Mary-Lou Heighes is President and founder of Compliance Plus, Inc.  Involved in the financial services industry since 1989, she has worked in numerous positions, including loan officer, marketer, and collector.  She also worked at a state trade association for seven years providing compliance assistance and advising on state and federal legislative issues that affect financial institutions.

Compliance Plus, Inc. was founded in 2000 to provide compliance assistance to the financial services industry.  Since then, Mary-Lou has helped financial institutions with developing compliance programs, provided compliance training nationwide, and spoken at numerous conferences throughout the country.  She has been an instructor at regulatory compliance schools, conducts dozens of webinars and conferences throughout the country, and has written articles for Credit Union Magazine.

THREE REGISTRATION OPTIONS

Note:  All materials are subject to copyright.  Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited.  Print materials may be copied for eligible participants only.

1.  LIVE WEBINAR

The live webinar option allows you to have one Internet connection from a single computer terminal.  You may have as many people as you like listen and watch from your office computer.  Registrants receive a website address and pass code that will allow entrance to the seminar.  The session will be approximately 90 minutes, including question and answer sessions.  Seminar materials, including instructions, pass code, and handouts will be emailed to you prior to the broadcast.  You will need the most-current version of Adobe Reader available free at www.adobe.com.

2.  ARCHIVED WEBINAR (Beginning January 1, 2016, CDs replaced with digital download*)

Convenient!

Listen to the archived webinar on your

iPad
iPhone
Android

Instructions will be emailed with the archived webinar link.

Can’t attend the live webinar?  The archived webinar is a recording of the live event, including audio, visuals, and handouts. We even provide the presenter’s email address so you may ask follow-up questions. Approximately one week prior to the webinar, you will receive an email with the archived webinar link.  This webinar link can be viewed anytime 24/7, beginning 6 business days after the webinar and will expire 6 months after the live program date.  The archived webinar may ONLY be ordered for 6 months following the webinar. It will not be available after this time.

*For orders placed on or before December 31, 2015, you will also receive a free audio/visual CD ROM.**  The CD ROM includes the original audio/visual presentation, the question and answer sessions, and the handouts.  For orders placed on or after January 1, 2016, CDs will no longer be provided.  However, you will receive instructions on how to download a digital copy of the webinar which you may keep and use indefinitely.

3.  BOTH LIVE WEBINAR & ARCHIVED WEBINAR LINK

Options 1 and 2 described above

AFFORDABLE, PROFESSIONAL TRAINING, WHEN AND WHERE YOU CHOOSE

**CD ROM is for Mac and PC use only


This event is being conducted by CU Web Training on behalf of the Missouri Credit Union Association. Click here to register: https://mcua.fed.cuwebtraining.com/store/webinar


 

 

October 22nd, 2015 2:00 PM   through   3:30 PM