[WSBAPT] Power of Attorney/Revocable Trust

Thu Nov 1 10:24:11 PDT 2018

I have always had problems getting banks that hold Trust accounts to honor
DPOAs wherein the Trustor names an agent.  The argument is usually that a
Trustee must access the funds, not an AIF of the Trustor.  It is usually
simpler to get a successor or co-trustee appointed who can easily access
the trust funds.

Sincerely,

*Chris J. Moore*
Christopher J. Moore, JD, CPA - Inactive, AEP®, EPLS*
Creason, Moore, Dokken & Geidl, PLLC
Lawyers
1219 Idaho Street,
<https://www.google.com/maps/place/1219+Idaho+St,+Lewiston,+ID+83501/@46.4170263,-117.0192992,17z/data=!3m1!4b1!4m5!3m4!1s0x54a0354b7ccf3e63:0xfee7451c99c186e8!8m2!3d46.4170263!4d-117.0171105>

Lewiston, Idaho 83501
<https://www.google.com/maps/place/1219+Idaho+St,+Lewiston,+ID+83501/@46.4170263,-117.0192992,17z/data=!3m1!4b1!4m5!3m4!1s0x54a0354b7ccf3e63:0xfee7451c99c186e8!8m2!3d46.4170263!4d-117.0171105>
Phone: 208-743-1516; Fax: 208-746-2231
Website: www.cmd-law.com

*Certified as an Estate Planning Law Specialist by the Estate Law
Specialist Board, Inc., the only estate planning certification entity
approved by the ABA and the Idaho State Bar Association.
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*From:* wsbapt-bounces at lists.wsbarppt.com [mailto:
wsbapt-bounces at lists.wsbarppt.com] *On Behalf Of *Diane J. Kiepe
*Sent:* Thursday, November 01, 2018 10:07 AM
*To:* 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
*Subject:* Re: [WSBAPT] Power of Attorney/Revocable Trust

Hi Steven,

This exact situation is a big reasoning for WA new POA law.  Financial
institutions can be very difficult to work with.  I had one turn down a POA
that I did because their institution was not specifically made, an other
one turn us down because it wasn’t on their form.  In the later case a
phone call, with the suggestion that getting a court order and a news story
on air shouldn’t be necessary.

If the POA is a springing form, and your client did not provide a letter
that “triggered” her authority that could be creating problems.  That
shouldn’t be difficult to get under the circumstances.  Also, make sure
your client doesn’t speak to someone at the first level, insist on
management and if management doesn’t help, ask for their legal counsel’s
number.

Last resort may be a TEDRA action against the institution, who may not
appear, getting court order that the POA, if properly effective, be honored.

It is definitely an issue that hopefully  the new state provides answers to
in the form of the Agents Affidavit.

Best,

Diane J. Kiepe

Diane J. Kiepe, Attorney at Law

Douglas • Eden

717 W. Sprague Ave., Suite 1500

Spokane, WA  99201

Phone:  (509) 455-5300

Fax:        (509) 455-5348

djkiepe at depdslaw.com

*From:* wsbapt-bounces at lists.wsbarppt.com [
mailto:wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>]
*On Behalf Of *steve mcconnell
*Sent:* Wednesday, October 31, 2018 3:25 PM
*To:* wsbapt at lists.wsbarppt.com
*Subject:* [WSBAPT] Power of Attorney/Revocable Trust

Attorney in fact pursuant to a POA prepared in 2013 pursuant to RCW 11.94
advises that several banking institutions holding accounts in the name of
101 year old principal's revocable living trust will not allow AIF to
access those funds to allow her to pay principal's nursing home fees. I do
not yet have the banks reasoning (according to client/AIF it is because
AIF's name isn't on the account) but will likely speak with them tomorrow.
The POA grants AIF broadest powers, including "all powers as an  absolute
owner" and the power to "exercise the principal's right to distribute
property in trust or cause a trustee to distribute property in trust to the
extent consistent with the terms of the trust agreement". Revocable trust
was created by principal for principal's benefit while living, including
the right to the distribution of all principal and income. Any thoughts as
to what the bank's arguments might be? This seems fairly straightforward to
me so I'm having trouble understanding how multiple banks could be taking
this position.

Thanks in advance.

*Steven M. McConnell*
*Attorney at Law*
144 Railroad Ave., Suite 308
Edmonds, WA  98020-4100
Tel:  (206) 783-0201
Fax: (206) 789-5199
Email:  smcconnelllaw at hotmail.com
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