[WSBAPT] Weekly Bank Being a "Butt" Story

[sullaw at comcast.net]

Listmates:

 
Here is my story of the week regarding a bank being a "butt."

Getting ready to close an intestate estate. Administrator was granted NIP
and a low bond amount on condition the bulk of the liquid funds are held
in a blocked account. Almost a year ago we set that up with BofA. 
 
Monday was the hearing on the Administrator's Final Report and Petition
for Decree of Distribution. There was no opposition and an Order was
entered. Regarding the blocked account, the Order provided:
 
"The Estate’s blocked account #********9387 at the 4th & Madison (Seattle)
Branch of Bank of America is hereby unblocked and the Administrator is
hereby authorized to pay all expenses of administration to conclusion
before making a final distribution of the residue to Decedent’s heirs in
the proportions set forth in Schedule C of the Final Report."

I dropped a certified copy (seemed overkill but I complied with the bank's
request) off at the branch and provided a copy of my Driver's License
(again - why?). I was told they had to fax it to legal in Delaware and
should hear in a half hour. Next morning, however, the bank calls my
paralegal. They're asking whether I am to be added as a signatory to the
account (which is going to be immediately closed according to bank policy
and the certified check for the proceeds deposited to the estate's
unblocked checking account). What did I do to create that confusion?
 
They also said they needed a copy of the Administrator's Driver's License.
Why? They were given it when the blocked account was established. 
 
That was Tuesday. Wednesday legal requested copies of the three exhibits
to the Final Report (Inventory, Charge & Discharge Statement and Schedule
of Distribution percentages for 32 heirs at various levels since there
were numerous predeceased heirs). The exhibits were NOT exhibits to the
Order. Why is the Final Report any of the bank's business and why does it
think it is entitled to demand it to comply with the simple Order to them
to unblock the account? Nevertheless, we sent the exhibits, since the
first rule of law I learned in school was "the bank always wins."

Now it's Thursday. The account is still blocked and legal is still sitting
on their thumbs. 

Has anyone else had this kind of problem with either BofA or another bank?
How have you approached it? Is the bank in contempt of the Order?
 
My problem is that the Administrator and beneficiaries have certain
expectations that things will move within a reasonable time after the
hearing on Monday. 

Best regards, 
JOHN J. SULLIVAN, 
ATTORNEY


LYONS | SULLIVAN
1111 THIRD AVENUE, SUITE 2890
SEATTLE, WASHINGTON 98101
206•623•6440 - WWW.DLJSLAW.COM


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