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Power of Attorney & Living Trust Documents

Wednesday, February 29th, 2012
11:00 am - 1:00 pm EST
2.5 CTFA & FID Credits

Everyday financial institutions are required to complete transactions for customers that involve Power of Attorney or Living Trust documents. To protect the financial institution's interests when using these documents, it is imperative to understand the basic do's and don'ts. This two hour presentation is designed to provide financial institution personnel with the best practices that can be used in dealing with these complex legal documents.

This two-hour course will answer the following questions:

Powers of Attorney

What is the relationship between the customer, the attorney-in-fact and the financial institution?
What steps must a financial institution take to protect itself when relying on a Power of Attorney?
What language should the financial institution look for in the Power of Attorney document when completing a transaction for the attorney-in-fact?
How is a Power of Attorney revoked and when is that revocation binding on the financial institution?

Living Trusts

How to establish the financial institution relationship, including changing titles and performing transactions (loans or deposits)?
How many co-trustees does it take to bind the trust?
When can a successor trustee do business for the trust?
Can a power of attorney be used with a trust document?
Can a trust own a safe deposit box?
Can a trust co-own an account with another trust (or person)?

Presenter - Terri D. Thomas

Terri D. Thomas is Senior VP and Legal Department Director for the Kansas Bankers Association. Prior to this, she was with "Bankers Choice," a financial consulting firm. Before this, Terri was employed in the financial industry for over twenty-three years in various capacities. Most notably, she served for fourteen years as in-house legal counsel and trust officer for Bank of America and its Kansas predecessors. Receiving her Bachelor of Arts degree from Kansas State University in 1985, Terri continued her education at Washburn University School of Law and obtained her Juris Doctor in 1988.

Presently, she serves as an adjunct instructor at Washburn University School of Law and the University of Kansas School of Law and is a frequent seminar presenter for financial associations.

Who Should Attend?

Financial institution employees involved with opening new accounts, deposit or loan documentation and operations will find this seminar very useful in handling daily day-to-day transactions.