[WSBAPT] Power of Attorney/Revocable Trust

[Heather deVrieze]

Who is the Trustee? If the accounts are in the trust, and the original trustor/trustee can no longer manage, the agent may need to make request of the Trustee on behalf of the principal.

If no trustee, that may be another problem. Hopefully someone has a copy of the Trust.

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 <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<mailto:smcconnelllaw at hotmail.com>
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