[WSBAPT] bank account taken upon death to pay for loan from bank

[John J. Sullivan, Esq.]

Robert:

 

My recollection from my numerous years in house at BofA is that this is not legally a creditor executing upon an asset of a decedent but a setoff of one obligation against another. In other words, contractually the loan and the accounts are legally a linked legal reality. 

 

One exception would be if it’s a POD account. Another would be if it’s credit card debt being offset. 

http://ttsmedia.ttstrain.com/SetoffHOLF021016.pdf


John J. Sullivan

 

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Rob Wilson-Hoss
Sent: Tuesday, May 12, 2020 9:56 AM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] bank account taken upon death to pay for loan from bank

 

I am thinking that this must be just one of many gaps in my understandings of the probate code.  For the first time in many years, I have a probate where the bank took all of the money in the accounts to pay for a loan that was outstanding. They base this on a contract with the decedent that lets them do this, the fine print in the original agreements. But that is a claim based on a contract that the decedent entered into prior to death. They did not file a creditor’s claim even though I sent them a 30-day ascertainable creditor’s notice. 

 

What am I missing? Shouldn’t they have to file a creditor’s claim? And if they didn’t, then don’t they have to give the $$ back?

 

Thanks, I look forward to being educated.

 

Rob

 

Robert D. Wilson-Hoss

Hoss & Wilson-Hoss, LLP

236 West Birch Street

Shelton, WA 98584

360 426-2999

www.hossandwilson-hoss.com <http://www.hossandwilson-hoss.com> 

rob at hctc.com <mailto:rob at hctc.com> 

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