[WSBAPT] BECU issues

[Lisa Schuchman]

Cy,

That's what BECU told me when this happened.  Whether the account-holder knew it I guess doesn't matter if they signed the agreement.

Lisa E. Schuchman
206-325-2801
www.lisaschuchman.com<http://www.lisaschuchman.com/>

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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Cyrus Field
Sent: Thursday, May 21, 2015 8:52 AM
To: 'WSBA Probate & Trust Listserv'
Subject: Re: [WSBAPT] BECU issues

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> [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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