[WSBAPT] Student Loans

Elizabeth Bateman Elizabeth at batemanlawgroup.com
Wed Jul 28 11:37:31 PDT 2021


I was not saying you should pull a credit report in evey probate. Here it sounds like the student loan lender is an ascertainable creditor.  I would not want to get that figured out. Student loans can wipe out an entire estate.

I would add, though, that private lenders did not pause due to Covid. So if there have been no statements or auto draws on the bank account it may be a little safer to assume there are no private student loans.

Elizabeth Bateman

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> on behalf of Candace Wilkerson <cwilkerson at wongfleming.com>
Sent: Wednesday, July 28, 2021 11:30:28 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Student Loans


Thanks for your thoughts, Eric (and Paul); good to know.  Strange that I’ve never actually had to deal with this issue before!



Best,

Candace Wilkerson



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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Eric Nelsen
Sent: Wednesday, July 28, 2021 1:59 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Student Loans



Personally, I don’t think pulling a credit report is required under due diligence standard in RCW 11.40.040<https://url.emailprotection.link/?bIXqHwlyO9AHU00NLTcKhUGXwBpgeYC3CPbfDoP2KFZaNLwjz_Sa80KI4eEyYO_iJwTfCEN8_R-HYfqTFHwifNCmpunvkx2-iNv4L8WtVwWPPvV7azFY4ed47ZtDsgPN2>, which is “conducting a reasonable review of the decedent's correspondence, including correspondence received after the date of death, and financial records, including personal financial statements, loan documents, checkbooks, bank statements, and income tax returns, that are in the possession of or reasonably available to the personal representative.” Going to a third party to get a report is above and beyond searching the decedent’s personal records.



Sincerely,



Eric



Eric C. Nelsen

Sayre Law Offices, PLLC

1417 31st Ave South

Seattle WA 98144-3909

206-625-0092

eric at sayrelawoffices.com<mailto:eric at sayrelawoffices.com>



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From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Paul Neumiller
Sent: Wednesday, July 28, 2021 10:38 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: Re: [WSBAPT] Student Loans



WHOA!?!?!  Is a PR pulling a decedent’s credit report a part of the standard due diligence in locating ascertainable creditors.  Are you guys routinely advising your PRs to pull a credit report?  Amy’s client suspected that there were student loans.  Does that suspicion require pulling a credit repost.  What if the PR is clueless as to the decedent’s affairs.  Is pulling a credit report a part of the due diligence then?





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From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Amy Goertz
Sent: Wednesday, July 28, 2021 10:16 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: Re: [WSBAPT] Student Loans



Great information - thank you to all who responded!



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Amy



Amy J. Goertz, J.D.

Goertz & Lambrecht PLLC

amyjgoertz at icloud.com<mailto:amyjgoertz at icloud.com>



1.888.926.2607 phone
1.877.684.1627 fax

Address for correspondence:

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Spokane, WA 99203



Additional office locations:

510 Bell Street
Edmonds, WA 98020



Goertz & Lambrecht PLLC

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On Jul 28, 2021, at 9:02 AM, Elizabeth Bateman <Elizabeth at batemanlawgroup.com<mailto:Elizabeth at batemanlawgroup.com>> wrote:



Studentaid.gov<https://url.emailprotection.link/?b-pCuLK0DI3c8lILWTt5tNMt65JdIFNHUYQESZ99vJXuHSW6mJxCV6UJU044ubkMtEjLKPopdVDEGXsLUPvKwl-_QO9_qdBiirU02HbDhR-VyMHdL9gq3GoI7b5oOn5-nQgexc93cMfYnXfjlJs34Bh6GfXN9ui80EGdY3xk4zcggopUVh0VIyJIrsDEO4vGQ2yFeysA4E-iUbMpi4JmJEBWClHWRlNOQ2oH87vPe13w0DMql7heV-EAsrK57gu2zJ3mWXyDNtyPdgjFBo7rJhpx_Yg6mKzGlfGfRVFlzPWU1UzPU8QThi6QiaEIEzb3qWX3TJNzXI2K6DzG-39wP3hY9d4n5q5kfSPfCgD4zNNCtU9WO8ObPMFCAPTvoIUOKJT-ZZ2B4cK6s-wEbxE6O9jynXsO6CjLEdlbWFHqiYYQ~> is where you can look up federal student loans.  Private loans will show up on credit report.  Some private student loan companies actually will discharge the loan at death now.  I know Earnest and Commonbond does.  There may be others.





Elizabeth G. Bateman

Associate Attorney

Admitted in Washington and Minnesota

Bateman Law Group, PLLC

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Seattle, WA 98104

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From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Joshua McKarcher
Sent: Wednesday, July 28, 2021 8:49 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: Re: [WSBAPT] Student Loans



Two ideas:



Years ago at least there was a federal database of student loans. It may still exist. Try googling it?



Get a recent credit report (three agency) for the deceased.



Good luck! Best, Josh



Joshua D. McKarcher

McKarcher Law PLLC

537 6th Street

Clarkston, WA 99403

(509) 758-3345

(509) 758-3314 (fax)

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From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> on behalf of Amy Goertz <amyjgoertz at icloud.com<mailto:amyjgoertz at icloud.com>>
Sent: Wednesday, July 28, 2021 7:48:59 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] Student Loans



Good Morning,



I have a probate in which the Personal Representative is certain that the decedent had student loans, but is unable to find any paperwork or other documentation from any lender.



Student loan payments have been suspended during the pandemic, so no bills have been received and no electronic debits have been made from her account.



In the past, decedents’ student loans have been forgiven upon the borrower’s death, but it is my understanding that this is not the case if the loan is from a private lender.



Does anyone have a suggestion as to how to find out who holds the decedent’s student loans?



The creditor claim period has now ended and we would like to wrap this up.



<image001.gif>

Amy



Amy J. Goertz, J.D.

Goertz & Lambrecht PLLC

amyjgoertz at icloud.com<mailto:amyjgoertz at icloud.com>



1.888.926.2607 phone
1.877.684.1627 fax

Address for correspondence:

2829 S. Grand Blvd., Suite 303
Spokane, WA 99203



Additional office locations:

510 Bell Street
Edmonds, WA 98020



Goertz & Lambrecht PLLC

www.goertzlambrecht.com<https://url.emailprotection.link/?b9IKVqqwmpPMVe4QKlqOywATeixsnuaJTE8EYQ7nOu0zLlqVMqvDL2hzyB6Ggb0Tm-gL8rHNKherg5J89-g1pqs4y29b3S5W_R-t0lf2eutYQC7ZuEuaVKF1rxUIumIxJnXa84aosvclwkMyPOgLM26-N7mYu-7oLMbOkDDUlpRSXA-HpNZI050zplbXIkEdjmorpMf6KpMUenAos2SIN1kbfx-BwNy1YQ1Fde3mTkx0I5OupLzVzpzFtAhOIWtk88FA2KtzRZ8Canv5ziD6WAnh7tPvcpYHX1budS-CGSn1toO4JZ3h6SUUeIFTfgSUd9ZwIXwEfiuXyFtfkiShWscOZJgHoHphotvWMwU4AL27fwHYXqxpwmGGomrSzCKO4BPCrUgIiA48t2gPnXmVsbRHT7j_xkzlTb0d-H1LWSCg~>













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