[WSBAPT] Administrator unable to obtain bond - has assets

Sat Jan 26 13:56:19 PST 2019

I had a situation where the probate closed after a house was returned to the
bank. The bank sold the house 3 years later in a foreclosure sale that
resulted in a court deposit of a surplus cash ($45,000). In order to reopen
the probate, I asked the court to allow me to hold the surplus cash once
retrieved in my IOLTA account instead of getting a bond conditioned upon a
court order to approve distribution of the surplus cash from my IOTLA net of
my expenses and fees to the heirs. There were four heirs who agreed in
declarations of the proposal in lieu of a bond. The court agreed.  I
referred the court to the last line of RCW 11.28.185 that gave the court
discretion to allow for an alternative security and that my proposal was a
viable alternative since nothing could be distributed without court
approval. In my case, the administrator was a 20 year old college student.
He didn't have bad credit just no credit.  

Very truly yours,

Maureen A. Wickert, Attorney at Law

14900 Interurban Avenue South, Suite 255

        Tukwila, WA 98168

       Phone: 206-859-5502

         Fax: 206-260-9005

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

       wickertlaw at comcast.net

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>
On Behalf Of Dalynne Singleton
Sent: January 25, 2019 10:31
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Administrator unable to obtain bond - has assets

I have an administrator ordered to obtain a $5,000 bond before she can have
her Letters.  She was unable to get bonded - she is not employed and has had
some past credit issues.

There is so little in this estate but she wants to pursue.  

I reviewed RCW 11.28.185:  The court may at any time after appointment of
the personal representative require said personal representative to give a
bond or additional bond, the same to be conditioned and to be approved as
provided in this section; or the court may allow a reduction of the bond
upon a proper showing.  In lieu of bond, the court may in its discretion,
substitute other security or financial arrangements, such as provided under
RCW 11.88.105 <http://app.leg.wa.gov/RCW/default.aspx?cite=11.88.105> , or
as the court may deem adequate to protect the assets of the estate.

She has $5,000 cash and I am making a motion to place those monies in my
trust account - anyone approached the court in a similar fashion?  I have
done my research and only found a couple of cases citing this RCW and they
were both very odd guardianship situations over 50 years ago.

Dalynne Singleton

Gourley Law Group

Snohomish Escrow

The Exchange Connection

1002 10th Street / PO Box 1091

Snohomish, WA 98291

360.568.5065

360.329.4079

360.568.8092  fax

dalynne at glgmail.com <mailto:dalynne at glgmail.com> 

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