PODs, Estates, Trusts and Survivorship: How to Handle Deceased Depositors’ Funds

Recorded: February 25, 2025
Presenter: Natalie Straus, CRCM, Director, Forvis Mazars, LLP.

Establishing a deposit account for a consumer can be a long-term commitment! Our responsibilities begin at account opening and continue even after the death of an account owner. This webinar will help your institution properly establish these account types and determine who should have access to funds in the accounts when the account owner dies.

Our discussion won’t be state-specific, but we’ll address the fundamental property law principals and other rules that help us determine who has a right to the funds of the deceased individual based on the account type established.

We’ll talk about how to establish various personal account types (like single party accounts and multiple party accounts) and address the institution’s responsibilities and risks when it comes to paying out the funds after the owner has died.

Our discussion will include explanations of:

• Non- testamentary transfers
• Rights of survivorship
• Estate accounts
• Beneficiaries
• Informal trusts/payable on death accounts
• Grantor trusts
• Valid trusts