[WSBAPT] BECU issues

Wed May 20 16:33:45 PDT 2015

What Rebecca said, but with respect to HELOCs. Deceased client has HELOC and savings account. BECU applied balance of savings account to the HELOC.

Daughter Personal Representative had expected to have the funds in the savings account to keep the mortgage and HELOC current while she emptied out the house, make a few repairs, pay administrative expenses, etc. The HELOC was going to be paid when the house sold, but by pulling almost all of the cash available to the estate to pay themselves, it made the administration more complicated and expensive.

Heather

Heather S. de Vrieze
Attorney-at-Law
[cid:image001.jpg at 01D013C2.30F35160]
3909 California Avenue SW
Seattle, WA 98116-3705
(206)938-5500
heatherd at westseattlelaw.com<mailto:heatherd at westseattlelaw.com>
www.westseattlelaw.com<http://www.westseattlelaw.com/>

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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Rebecca King
Sent: Wednesday, May 20, 2015 4:10 PM
To: 'WSBA Probate & Trust Listserv'
Subject: Re: [WSBAPT] BECU issues

The biggest concern I have with BECU right now is that they seem to avoid the requirement of submitting a creditor's claim when a decedent has an outstanding balance on a credit card with them.  They just withdraw the outstanding balance on the credit card from the decedent's checking/savings accounts.  Their justification is that their account agreements authorize them to do that.  It essentially puts them ahead of every other creditor that may have a claim undermining the creditor claim statute.

Thanks, Beth.

Rebecca King
Attorney

Northwest Elder Law Group
11300 Roosevelt Way NE, Suite 101
Seattle, WA 98125
(206) 937-6102
Fax (206) 830-9326

Providing Services in Elder Law

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From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Beth McDaniel
Sent: Wednesday, May 20, 2015 1:54 PM
To: WSBA Probate & Trust Listserv
Subject: [WSBAPT] BECU issues

Mates,

I'm embarrassed by the delinquency of my request, but I have a meeting tomorrow, May 21, 2015,  with a Vice President from BECU and someone from their compliance department to address concerns and frustrations that I have had over the years with BECU.  I would like to share your concerns too.  If you have had an issue with BECU could you please send me an e-mail describing what happened so that I can relay that to BECU?

The meeting stems from a lunch I had with the Vice President.  I shared with her what I tell estate planning clients who have accounts and/or liabilities with BECU.  I am thankful that they are open to a meeting and am optimistic about a positive outcome.

My e-mail is beth at bethmcdaniel.com<mailto:beth at bethmcdaniel.com>.  Thank you.

Beth A.McDaniel
Law Offices of Beth A. McDaniel, PLLC
272 Hardie Avenue SW
Renton, WA 98057
(425) 251-8880
fax:(425) 336-2505
www.bethmcdaniel.com<http://www.bethmcdaniel.com/>
beth at bethmcdaniel.com<mailto:beth at bethmcdaniel.com>

This communication contains confidential information and may be attorney/client privileged.  If you are not the intended recipient, or believe you have received this communication in error, please reply to the sender stating that fact and delete the copy you received.

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