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

Thu Sep 26 15:43:05 PDT 2019

You could prepare a Declaration of Trust assembling all of the trust terms
found in the will and perhaps some applicable by statute, and appoint the
Trustee.  Then, obtain an order approving the Declaration and authorizing a
final distribution to the Trust.

I have done this a couple of times, mostly to clearly define the terms of
the Testamentary Trust where the will was a little murky.  But, it should
work to convince the bank to create the trust.

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
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Website: www.cmd-law.com

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Specialist Board, Inc., the only estate planning certification entity
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*From:* wsbapt-bounces at lists.wsbarppt.com [mailto:
wsbapt-bounces at lists.wsbarppt.com] *On Behalf Of *Josh Grant
*Sent:* Thursday, September 26, 2019 3:14 PM
*To:* WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
*Subject:* Re: [WSBAPT] Chase Bank requiring court order to set
uptestamentary trust account?

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*
[image: advocates]
P. O. Box 619
Wilbur, WA 99185
509 647 5578

*From:* Mike Winslow <mike at winslegal.com>

*Sent:* Thursday, September 26, 2019 3:01 PM

*To:* 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>

*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 <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*
[image: advocates]
P. O. Box 619
Wilbur, WA 99185
509 647 5578
------------------------------

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