New Accounts Series: Opening Minor Accounts: Signature Cards, Access, Ownership

In today’s competitive environment, financial institutions must develop deposit products for consumers of varying interests and ages.  While minor accounts can be complex, remember you may be helping the next generation of loyal accountholders.  This session will cover three critical areas for opening minor accounts:

1. Who owns the funds?
2. How should account opening documents be executed?
3. How should access to the funds be controlled during the life of the account?

Many states have established laws for defining the legal ownership of accounts for minors, such as UTMA or UGMA (Uniform Transfers to Minors Act or Uniform Gifts to Minors Act).  Although state statutes will not be covered, this session will address key challenges and offer practical solutions for opening minor accounts.

For more information and to register, CLICK HERE.