[WSBAPT] Bank of America and Probate Creditor Claim

[Jeanne Dawes]

Hi Jared.

The PR will not be personally liable, but the estate will be liable.  If you do not dispose of the creditor, it can come after the assets in the estate, even after they have been distributed to a beneficiary.    So you can wait the 24 months, or comply with the statute to see if BofA, or any other creditors, file a claim.  If surviving spouse is the sole beneficiary, you could do nothing, and get an acknowledgment from the surviving spouse, that her share of the estate is subject to any claim that may be made by a creditor within the time allowed.  If there are more beneficiaries, you could have them all acknowledge that their share of the estate is subject to the claims of creditors made within the time allowed.  In the latter case, you would also want the beneficiaries to indemnify the PR for any liability resulting from not complying with the creditor’s claim statute and distributing before the claim period expires.
Hope this helps.

Jeanne

Jeanne J. Dawes
Attorney at Law
Gore & Grewe, P.S.
103 E. Indiana Avenue, Suite A
Spokane, WA 99207-2317
Voice:  509-326-7500
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jjdawes at goregrewe.com<mailto:jjdawes at goregrewe.com>
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From: wsbapt-owner at lists.wsbarppt.com [mailto:wsbapt-owner at lists.wsbarppt.com] On Behalf Of Jared E. Adams
Sent: Tuesday, December 23, 2014 1:32 PM
To: wsbapt at lists.wsbarppt.com; 'WSBA RPPT Probate & Trust Discussion Forum'
Subject: [WSBAPT] Bank of America and Probate Creditor Claim

Hello All,

I have a client (surviving spouse), whose deceased spouse had a sizeable VISA credit card balance with Bank of America at time of death (earlier this year).
Client mistakenly thought that the balance had been paid, so no Probate Notice to Creditors was sent (I didn’t even know about the potential creditor until later).
Recently, client contacted BoA and got the following email reply from a branch manager, “When verifying with our Estate Enterprise Unit, who normally handle these type of closed accounts, I was informed that they will provide you a verbal disclosure over that phone stating that you personally will not be held liable to the balance on the card and that they are not requesting payment from the estate.”
I am surprised…okay, shocked!  I’ve never known BoA to walk away from a payment.  Has anyone else had BoA walk away from credit card debt when they are entitled to payment, the estate is solvent, etc.?
Client is willing to pay, but also would be happy to walk away if BoA isn’t going to pursue it.
Thoughts?
Merry Christmas,

Jared


Jared E. Adams, JD, LL.M.

Condie & Adams, PLLC
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