[WSBAPT] Any problem with a non-resident PR opening the estate checking account in her country of residence?

[Jon Fritzler]

Thanks for the replies.  I agree opening an estate account in another country would be problematic at best and have advised my client that the account will need to be in the U.S.

Sincerely,
Jon M. Fritzler
Attorney at Law
717 E. 22nd St.
Vancouver, WA 98663
Tel. 360.818.4431
Eml fritzlerlaw at outlook.com<mailto:fritzlerlaw at outlook.com>


From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Jamia Burns
Sent: Wednesday, November 16, 2022 5:16 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Any problem with a non-resident PR opening the estate checking account in her country of residence?

Taking estate money and placing it in a bank account in another country seems problematic (the court would lack jurisdiction if there was an issue). I would also be surprised if a bank in Canada would be willing to accept one of our letters testimentary to open an account. It might also trigger some tax implications in Canada. As the personal representative is a US citizen and has a social security number, I would strongly suggest that they open an account in the US.


Jamia S. Burns
Attorney at Law - Estate Planning
360-739-6379
www.jamiaburnslaw.com<http://www.jamiaburnslaw.com>
jamia at jamiaburnslaw.com<mailto:jamia at jamiaburnslaw.com>
Office: 1200 Dupont Street, Ste. 1-D
Bellingham, WA 98225 (by appointment only)

On Wed, Nov 16, 2022, 4:42 PM Diane J. Kiepe <DJKiepe at depdslaw.com<mailto:DJKiepe at depdslaw.com>> wrote:
I would suspect you can but there are FBAR issues that arise with foreign accounts and penalties are stiff for noncompliance.  I have only seen the FBAR filings in an individual context so not sure if/how they apply to estates.

Diane J. Kiepe

Diane J. Kiepe
Douglas Eden
717 W. Sprague Ave.
Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

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 Roger Hawkes
Sent: Wednesday, November 16, 2022 4:17 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: Re: [WSBAPT] Any problem with a non-resident PR opening the estate checking account in her country of residence?

Let us know what you find out; I suspect the irs wants to know about or have access to all Estate info and that won’t happen with Canadian Bank, I think.

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 Jon Fritzler
Sent: Wednesday, November 16, 2022 3:52 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] Any problem with a non-resident PR opening the estate checking account in her country of residence?

Listmates,

If the personal representative is a US citizen but lives in Canada, is there any problem with her opening the estate account at her bank in Canada?

Sincerely,
Jon M. Fritzler
Attorney at Law
717 E. 22nd St.
Vancouver, WA 98663
Tel. 360.818.4431
Eml fritzlerlaw at outlook.com<mailto:fritzlerlaw at outlook.com>

***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***
_______________________________________________
WSBAPT mailing list
WSBAPT at lists.wsbarppt.com<mailto:WSBAPT at lists.wsbarppt.com>
http://mailman.fsr.com/mailman/listinfo/wsbapt
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20221117/a9bb986f/attachment.html>