[WSBAPT] Bank of America and Probate Creditor Claim

[Josh Grant]

Some cards have life insurance tied to them and pay off the balance.   I have an estate now where the client checked the bank and found out verbally that they will not need to pay for it because of life insurance.  Nothing in writing.  I intend to send to them the notice to creditors as a known creditor ( I have the time to do so) anyway.

From: Jared E. Adams 
Sent: Tuesday, December 23, 2014 1:31 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
611 4th Avenue, Suite A
Kirkland, WA  98033
(voice):  (425) 450-1040 
(fax):  (425) 450-1041

(email): jared at condieadams.com

(web): www.condieadams.com

 

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