[WSBAPT] Power of Attorney/Revocable Trust
delp at whidbey.net
delp at whidbey.net
Thu Nov 1 11:28:39 PDT 2018
Steve:
For what its worth, a few of my clients have had success with me simply
giving them instructions of what to say to the bank. I talked to my
attorney who said that my DPOA is valid under WA law and section XXX of the
DPOA expressly allows me to _____ And, my attorney told me that the bank
is required under WA law to honor this DPOA and she gave me a copy of this
law, RCW 11.25.200 (with sections 3(a) and (b) highlighted).
Good luck!
Margaret
--
Law Office of Margaret Delp
Mailing address:
PO Box 292
Langley, WA 98260
Physical Address:
2815 Howard Road, Second Floor
Langley, WA 98260
Telephone: 360-579-4530
From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>
On Behalf Of Diane J. Kiepe
Sent: Thursday, November 1, 2018 11:08 AM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Power of Attorney/Revocable Trust
Yes!!!
From: wsbapt-bounces at lists.wsbarppt.com
<mailto:wsbapt-bounces at lists.wsbarppt.com>
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Rob Wilson-Hoss
Sent: Thursday, November 01, 2018 10:32 AM
To: 'WSBA Probate & Trust Listserv'
Subject: Re: [WSBAPT] Power of Attorney/Revocable Trust
And in the TEDRA ask for reasonable attorney fees against the bank(s).
Robert D. Wilson-Hoss
Hoss & Wilson-Hoss, LLP
236 West Birch Street
Shelton, WA 98584
360 426-2999
www.hossandwilsonhoss.com
rob at hctc.com <mailto:rob at hctc.com>
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From: wsbapt-bounces at lists.wsbarppt.com
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[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'
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 wasnt on their form. In the later case a phone
call, with the suggestion that getting a court order and a news story on air
shouldnt 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
shouldnt be difficult to get under the circumstances. Also, make sure your
client doesnt speak to someone at the first level, insist on management and
if management doesnt help, ask for their legal counsels 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 <mailto:djkiepe at depdslaw.com>
From: wsbapt-bounces at lists.wsbarppt.com
<mailto:wsbapt-bounces at lists.wsbarppt.com>
[mailto: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 <mailto: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: <mailto:smcconnelllaw at hotmail.com> smcconnelllaw at hotmail.com
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