[WSBAPT] Chase & Minor Beneficiaries

[Diane J. Kiepe]

Although banks and institutions often make up things as they go, I think in this case they may be correct in their requirements, given that minors are involved ( I would ask for the IRA Contract).  I feel like many years ago I did a TEDRA for a financial institution and set up a custodial account to receive payments and that was followed by Order of the Court but it was not chase.


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

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Anna Van Pelt
Sent: Wednesday, January 3, 2024 12:16 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Chase & Minor Beneficiaries

Happy New Year!

Has anyone had any luck getting Chase to distribute IRA funds to a minor beneficiary without having the parent get appointed as conservator first?

Grand-aunt thought she was being generous leaving part of her IRA to her minor grand-nephew and grand-niece, but Chase sounds like they won't distribute the funds unless a court appoints their parent as conservator. Kids are not mentioned at all in the will, though there is a probate started already.

Thanks,
Anna



Van Pelt Law
(206) 635-7250
www.vanpeltlegal.com<http://www.vanpeltlegal.com/>

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