[WSBAPT] Schwab Refuses to Recognize Community Property Agreement

[Kerry Richards]

Dear Jenny:
Good post. Thoughtful an to the point.
Yours truly,
Kerry A. Richards

On Mar 13, 2020, at 6:24 PM, "jcrspicatto at gmail.com" <jcrspicatto at gmail.com> wrote:


When your client is present, has the relevant account numbers/statements with her, and can verify her identity on the phone, Call Schwab’s estate helpline at 1-888-297-024.  Be very patient and understand that the person you are talking to is not a lawyer.  Explain that Washington has a special procedure for surviving spouses that is similar to a small estate affidavit.  An estate specialist should be assigned to your client’s case.  Once you know who that person is, then you can communicate via mail if not by phone.  Use a cover letter to explain the law as to CPAs.  Look at the statutes that authorize CPAs and authenticate their use.  Just like durable powers of attorney, there is statutory authorization for use of an affidavit to certify the CPA and adverse consequences to the financial institution if it does not recognize the CPA + Affidavit.  Probate is not required.

Jenny Rydberg, JD
206-550-5491

From: Jamia Burns <jamia at jamiaburnslaw.com>
Sent: Friday, March 13, 2020 11:45 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Schwab Refuses to Recognize Community Property Agreement

My client's husband died. They had a joint account at Schwab, but apparently no right of survivorship on the types of accounts and no named beneficiaries. They have a signed community property agreement. Charles Schwab will not recognize it and is requiring Probate. Any advice greatly appreciated!

Respectfully,

Jamia S. Burns
Attorney at Law
(360) 739-6379
Office: 1200 Dupont St., Suite 1-D
Bellingham, WA 98225 (By Appointment Only)
Mail: P.O. Box 29453
Bellingham, WA 98228
jamia at jamiaburnslaw.com<mailto:jamia at jamiaburnslaw.com>
www.jamiaburnslaw.com<http://www.jamiaburnslaw.com>

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