> Powers of Attorney and Decedent’s Accounts: Who has Access to Your Member’s Money?

Wednesday, February 20, 2013
10:00 AM Eastern Daylight Time
3:00 PM

 

Overview: The objective of this seminar is to provide you with the knowledge to identify what documents and procedures are required when a third party has access to your member’s accounts.

A Power of Attorney is used for this purpose during the member’s life. You will learn the purposes and uses of a power of attorney, for how long it is effective and what is required under NJ law to have a valid power. Also included will be the discussion of special cases such as real estate transactions.

After a member dies, their Will, or state law if they do not have a Will, governs who has access to their accounts. This portion of the seminar will discuss the various types of credit union accounts and who owns them after the death of the member. Special attention will be given to the NJ Department of Banking and Insurance regulations that apply to decedent’s accounts. You will learn how to deal with the family representatives, and when the funds in the accounts may be released.

This seminar will be particularly helpful to member services representatives and supervisors with the responsibility for dealing with member’s accounts.

Speakers: Stephen Edwards and Drew Edwards, of the law firm of Edwards & Edwards have been representing the NJ Credit Union League and various credit unions in NJ since 1976. They have lectured on numerous regulatory and operational matters and attempt to provide their audience with a practical, common sense approach to the credit union business, not one that is theoretical or legalistic. Steve is a graduate of Lehigh University and attended law school at the College of William & Mary. Drew is a graduate of New York University and attended Columbia Law School.

Locations: NJ Credit Union League "live" and via Video Conferencing at Atlantic FCU and Members 1st of NJ FCU.

NJCUL                                Atlantic FCU                    Members 1st of NJ FCU
299 Ward Street                 37 Market Street               37 West Landis Avenue
Hightstown, NJ 08520       Kenilworth, NJ 07033      Vineland, NJ 08360

Time: 10:00 a.m. – 3:00 p.m.

Tuition:
$150 million & above  $209.00
$33.8-150 million         $149.00
Under $33.8 Million     $ 69.00

To register and pay by check, send an email to Mary Zelinsky at mzelinsky@njcul.org and your credit union will be invoiced. To register and pay online, click here.