[WSBAPT] Probate advance assignment of heir's interest

[Bruce Moen]

Can you share the WA case law questioning the validity?

Thanks,

  Bruce Moen

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Shannon Jones
Sent: Tuesday, October 5, 2021 9:17 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Probate advance assignment of heir's interest

I had a similar issue arise in a probate with a firm in Florida. I researched and there was some WA case law questioning validity of such assignments, so I decided to file a final report and have a court hearing to get approval of payment of heir's share to the company she advanced her share to instead of going the route of a Decl of Completion. Court did approve and a portion of the heir's share went to this company who had advanced money - Shannon


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Shannon R. Jones | Attorney
Campbell Barnett PLLC
P: 253.848.3513| F: 253.845.4941
317 South Meridian
Puyallup, WA 98371
shannonj at campbellbarnettlaw.com<mailto:shannonj at campbellbarnettlaw.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 Timothy Lehr
Sent: Tuesday, October 5, 2021 9:01 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] Probate advance assignment of heir's interest

All,

In a probate I have, I received a letter from a Probate Advance company out of Delaware that has apparently entered into an agreement with a beneficiary of the estate to advance them funds in return for an assignment of the beneficiary's interest in the estate. I couldn't get a hold of the beneficiary to discuss, and we weren't ready for distributions, so I basically sat on it. Now, distributions will be occurring soon and the company has filed an Assignment, Sale and Transfer of Beneficial Interest in the case, that looks to be signed by the beneficiary.

Has anyone delt with these companies before? It's my first time seeing this, so I was a little skeptical, but now I need to decide how to proceed.

Thanks,

Timothy C. Lehr
Attorney at Law

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e:   timothy at stileslaw.com<mailto:timothy at stileslaw.com>
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