[WSBAPT] BECU issues

[Cyrus Field]

Rebecca- Are you sure the accounts aren't "cross collateralized" (or
something like that) meaning they take a security interest in any bank
accounts for amounts owed? I remember from bankruptcy law that credit unions
could do that, in contrast to most banks, which turned them into secured
creditors and bumped them up the ladder in terms of probate creditor
priority. Thanks, Cy

 

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] 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.  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

 <http://www.bethmcdaniel.com/> www.bethmcdaniel.com

 <mailto:beth at bethmcdaniel.com> 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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