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Course description

You’ve got customers at your desk who want to open an account for their new baby girl. Grandparents and uncles, aunts and friends have been very generous, and the young couple wants to deposit $5,000 in checks and cash they’ve received in the account. Everything they say suggests they have no immediate plans for the money, but want to ensure it will “be there for her” when the need arises.

These are all preliminary signs that a UTMA account could be exactly what they need. You need to be able to explain these accounts and compare them with other possible products that might be right for them. That means you need to know basic information about UTMA accounts. This special one-hour program is designed to provide the basic information you need.

In this program, we’ll discuss—

  • The basic purpose of the Uniform Transfer to Minors Act
  • Reasons to select a UTMA account
  • When a UTMA account is not the answer
  • Documentation and information needed
  • Setting up the account
  • Use of the account
  • Improper use of UTMA accounts
  • Taking action when the bank sees abuse of an account
  • Who has account access
  • Death of the custodian (or the minor)
  • Terminating the custodianship and closing the account

WHO SHOULD ATTEND:

Customer service personnel who need a basic understanding of UTMA deposit accounts to be able to confidently offer them as a product when appropriate. 

Instructor(s)

Course curriculum

  • 1

    Webinar

    • Access Webinar

  • 2

    Materials

    • Slides

    • Materials

    • Questions and Answers

  • 3

    Webinar Evaluation

    • Please complete this course evaluation ...