[WSBAPT] Chase Bank requiring court order to set uptestamentary trust account?

[Josh Grant]

I agree with what should happen.  The banker says “I talked to my legal department and you have to have a court order”
If I can’t solve it with a quick call, I will tell the client to take a check to a new bank with a copy of the LW&T and open an account.

Joshua F. Grant

P. O. Box 619
Wilbur, WA 99185
509 647 5578

From: Mike Winslow 
Sent: Thursday, September 26, 2019 3:01 PM
To: 'WSBA Probate & Trust Listserv' 
Subject: Re: [WSBAPT] Chase Bank requiring court order to set uptestamentary trust account?

This sounds like the typical New York bank making up their own rules to protect their back sides.

 

Funding the trust should be as simple as the estate paying the money out to the trustee and the trustee then opening a bank account in the name of the trust, supplying a copy of the trust instrument (which in this case is the LWT) and the EIN.

 

What exactly does the banker say must be stated in the court order?

 

Michael A. Winslow

1204 Cleveland Ave.

Mount Vernon, WA 98273

Ph. 360-336-3321

Em. Mike at winslegal.com

 

This message is from an attorney, so it’s confidential. If you are not the intended recipient, it’s too late to stop reading this message, but you may not use it for any improper purpose. Huge Disclaimer available upon request.

 

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Josh Grant
Sent: Thursday, September 26, 2019 1:49 PM
To: wsbar trust
Subject: [WSBAPT] Chase Bank requiring court order to set up testamentary trust account?

 

My client is a surviving spouse and PR or her husband’s estate.  The LW&T provides that H’s assets go in to a testamentary trust with W as Trustee. W gets all income and whatever she needs during her life. We have about $20,000 in an estate account and we are ready to close the estate.  We have supplied tax I.D. # for the trust and copy of the will.  Local bank people says they checked with legal department and we have to get a court order because it is a Testamentary Trust.

 

Anyone agree with the bank? If so what kind of order?

If disagree, Anyone know someone at or a direct line to the legal department at Chase? or have a copy of a nasty=gram I can use?

thanks

 

Joshua F. Grant

P. O. Box 619
Wilbur, WA 99185
509 647 5578



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