Webinar – Account Compliance for Conservatorships, Guardianships & Powers of Attorney in Minnesota
10 a.m.-11 a.m.
Online registration is closed.
With Minnesota's population growing older, credit unions must be prepared to handle the changing needs of their members.In order to assist with the care and needs, many members are relying upon the support of a loved one to manage their day-to-day decisions, including their finances. Minnesota law provides three legal relationships for persons in need of this assistance: powers of attorney; conservatorships and guardianships. Each of these relationships grant a designated person a different level of control over a protected person. Depending on how these documents are constructed, the designated person's powers may range from very limited to complete control over a member's assets. Credit unions must be aware of the differences in these documents to ensure the designated person exercises proper control over the member's assets and to avoid situations involving elder abuse, theft and fraud.
To assist credit unions in understanding these protective relationships, the Minnesota Credit Union Network is hosting a webinar focused on account compliance for conservatorships, guardianships and powers of attorney. This session will detail what a credit union must consider when presented with a legal document establishing one of these relationships.
Specifically, the webinar will highlight:
- Important differences between conservatorships, guardianships and powers of attorney;
- Powers of the conservator, guardian and attorney-in-fact;
- Setting up accounts for each type of protective relationship;
- Evaluating powers of attorney created online or by the member vs. the Minnesota Short Form;
- Handling share drafts and other financial documents;
- Termination of the protective accounts; and
- Successor conservators, guardians and attorneys-in-fact.
Participants will receive login instructions and handout materials via email prior to the webinar. In addition after the session, registrants will receive a web link to the recorded webinar.
Time: 10 a.m.-11 a.m.
Deadline: Friday, Dec. 14
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