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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72"><div class=WordSection1><p class=MsoNormal><span style='color:#1F497D'>Jon:<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>I believe, upon review of your response, and the comments of Donna Calf Robe, that your interpretation of the statute is correct and mine was not correct. One problem that the bank might have is the fact that earnings have to usually be reported to the IRS, using an individual’s Social Security Number. And, they often want a signature from someone, as opposed to no signature or custodian at all. So, it is easy to understand why a skittish bank employee might hesitate, particularly if the computer matrix the employee is using to open the account requires a particular cast of characters be involved in order to be able to open an account. <o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>I also agree with Donna that it might be a local branch problem. Upon occasion, when one branch of a bank or credit union will not comply with what is clearly contemplated in a statute as being A-OK, I often recommend that the client present the same request to another branch of the same bank or credit union and more times than not, everything gets done.<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>The UTMA ploy was the one that I wanted to advocate, but I agree that it is not worthwhile if the amount involved is not particularly great. <o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Regards,<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Doug Bratt <o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> wsbapt-bounces@lists.wsbarppt.com [mailto:wsbapt-bounces@lists.wsbarppt.com] <b>On Behalf Of </b>Jon Fritzler<br><b>Sent:</b> Tuesday, June 14, 2016 4:06 PM<br><b>To:</b> 'WSBA Probate & Trust Listserv'<br><b>Subject:</b> Re: [WSBAPT] Blocked financial account for minor beneficiary [text]<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Doug,<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Thank you for the reply. I agree with you that a distribution to a custodian under the UTMA, which would allow the funds to be held up to the minor’s 25<sup>th</sup> birthday, would be better than the minor getting all the funds at age 18 if a “boatload” of money were involved but the amount that the minor will inherit in this case is relatively small. I also agree there is nothing in the statute preventing the PR from serving as a custodian under the UTMA. However, I also don’t think there is anything obligating a PR to do so if they would prefer not to do so.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>I respectfully disagree with your analysis of the statute, however. 11.076.095(1) directs that the funds be deposited in a blocked financial account subject to withdrawal only upon the order of the court in the original probate proceeding or the minor attaining the age of 18. RCW 11.076.095(2) directs that the funds be paid or delivered to a guardian and (3) directs that they be transferred to a custodian subject to the UTMA. Both guardians and UTMA custodians have the authority to use the funds for the benefit of the minor without first obtaining a court order so I don’t understand how the PR could do (1) in combination with (2) or (3). I think they are three distinct options.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><div><p class=MsoNormal>Sincerely,<o:p></o:p></p><p class=MsoNormal>Jon M. Fritzler<o:p></o:p></p><p class=MsoNormal>Attorney at Law<o:p></o:p></p><p class=MsoNormal>PO Box 61451<o:p></o:p></p><p class=MsoNormal>Vancouver, WA 98666<o:p></o:p></p><p class=MsoNormal>Tel. 360.818.4431<o:p></o:p></p><p class=MsoNormal>Eml <a href="mailto:fritzlerlaw@outlook.com"><span style='color:blue'>fritzlerlaw@outlook.com</span></a><o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>CONFIDENTIALITY<o:p></o:p></p><p class=MsoNormal>The information contained in this email is intended only for the use of the person or entity to whom it is addressed. This email may contain confidential or privileged information. If you are not the person whose name appears above, or the person responsible for delivering the email to the addressee, you are hereby notified that reading, using, copying, distributing or disseminating this communication is strictly prohibited. If you think that you have received this email message in error, please email the sender at <a href="mailto:fritzlerlaw@outlook.com"><span style='color:blue'>fritzlerlaw@outlook.com</span></a>. Thank you.<o:p></o:p></p></div><p class=MsoNormal><o:p> </o:p></p><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b>From:</b> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">mailto:wsbapt-bounces@lists.wsbarppt.com</a>] <b>On Behalf Of </b>Douglas Bratt<br><b>Sent:</b> Monday, June 13, 2016 4:35 PM<br><b>To:</b> WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br><b>Subject:</b> Re: [WSBAPT] Blocked financial account for minor beneficiary<o:p></o:p></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span style='color:#1F497D'>Jon:<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>I don’t think the bank is in the wrong in this instance (an unusual conclusion for me).<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>By my reading of the statute, you either have to appoint a Guardian (yuck) or pay it over to a custodian on behalf of the minor. The statue appears to require the PR to do (1) in combination with (2) or for the PR to do (1) in combination with (3).<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>It appears that the statute has nothing in it that would prevent the PR, him/herself to serve as the custodian.<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>However, better yet, how about a distribution under the Uniform Transfers to Minors Act, which would allow funds to be held onto by a custodian, on behalf of the Minor, beyond his/her 18<sup>th</sup> birthday, up to, and including, the Minor’s 25<sup>th</sup> Birthday (which might be a desirable goal, depending upon how much money is involved. If it is a “boatload” of money, better not to have an 18 year old getting it in time to have a multi-day or multi-week celebration to beat all celebrations of his/her birthday, and soon the money is gone. If it is only a couple thousand dollars, it is probably not worth the extra hassle.) Again, I have had the PR serve as the custodian under that statute.<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Good luck.<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Doug Bratt<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:13.5pt;font-family:"Lucida Calligraphy";color:#1F497D'>Douglas J. Bratt</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Lucida Calligraphy";color:#1F497D'>Lawyer</span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'> <o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><img border=0 width=165 height=167 id="Picture_x0020_1" src="cid:image001.jpg@01D1C670.2B431B30" alt="Envelope scaled Terry"></span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>Office: (360) 213-2040 <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'> Fax: (360) 213-2030<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>CONFIDENTIALITY NOTICE: This email message may contain confidential or privileged information. If you have received this message by mistake, please do not review, disclose, copy, or distribute the email. Instead, please notify us immediately by replying to this message or telephoning us. Thank you.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'> <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>NOTE:</span><span style='font-size:10.0pt;font-family:"Times New Roman","serif";color:#1F497D'> </span><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>I do not use encrypted email. Messages sent to or from my office via email are not secure and may not be protected by attorney-client privilege. This email address is not monitored at all times. If your matter is urgent, please phone my office during regular business hours.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'>TAX ADVICE NOTICE: IRS Circular 230 requires us to advise you that, if this communication or any attachment contains any tax advice, the advice is not intended to be used, and cannot be used, for the purpose of avoiding federal tax penalties. A taxpayer may rely on professional advice to avoid federal tax penalties only if the advice is reflected in a comprehensive tax opinion that conforms to stringent requirements. Please contact us if you have any questions about Circular 230 or would like to discuss our preparation of an opinion that conforms to these IRS rules.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">mailto:wsbapt-bounces@lists.wsbarppt.com</a>] <b>On Behalf Of </b>Jon Fritzler<br><b>Sent:</b> Monday, June 13, 2016 2:45 PM<br><b>To:</b> 'WSBA Probate & Trust Listserv'<br><b>Subject:</b> [WSBAPT] Blocked financial account for minor beneficiary<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>Listmates,<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>I represent a PR with non-intervention powers in an estate where one of the beneficiaries is a minor. We are trying to open a blocked financial account for the minor’s share of the estate per RCW 11.76.095(1) (see below). Although I do not read the statute as requiring a PR with non-intervention powers to obtain a court order to open such an account, US Bank would not open the account without one. OK, so I got a court order directing the PR to distribute the minor’s share to a blocked account subject to withdrawal only upon the order of the court in the probate proceeding, or upon the beneficiary attaining the age of 18 and furnishing proof thereof satisfactory to the depositary. <o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>However, US Bank still refuses to open the account because the order does not specify who is to be the custodian of the account! The reason my client wanted to open a blocked financial account in the first place was because there aren’t any good candidates to serve as custodian of the funds for the minor. Has anyone had success opening a blocked financial account for a minor beneficiary pursuant to 11.76.095(1) without naming a custodian and, if so, at which financial institution?<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal style='text-autospace:none'><u><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>RCW 11.76.095<o:p></o:p></span></u></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>When a decree of distribution is made by the court in administration upon a decedent's estate or<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>when distribution is made by a personal representative under a nonintervention will and<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>distribution is ordered under such decree or authorized under such nonintervention will to a person<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>under the age of eighteen years, it shall be required that:<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>(1) The money be deposited in a bank or trust company or be invested in an account in an<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>insured financial institution for the benefit of the minor subject to withdrawal only upon the<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>order of the court in the original probate proceeding, or upon said minor's attaining the age<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>of eighteen years and furnishing proof thereof satisfactory to the depositary;<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>(2) A general guardian shall be appointed and qualify and the money or property be paid or<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>delivered to such guardian prior to the discharge of the personal representative in the<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>original probate proceeding; or<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal style='text-autospace:none'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>(3) A custodian be selected and the money or property be transferred to the custodian subject<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>to chapter 11.114 RCW.</span><o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Sincerely,<o:p></o:p></p><p class=MsoNormal>Jon M. Fritzler<o:p></o:p></p><p class=MsoNormal>Attorney at Law<o:p></o:p></p><p class=MsoNormal>PO Box 61451<o:p></o:p></p><p class=MsoNormal>Vancouver, WA 98666<o:p></o:p></p><p class=MsoNormal>Tel. 360.818.4431<o:p></o:p></p><p class=MsoNormal>Eml <a href="mailto:fritzlerlaw@outlook.com"><span style='color:blue'>fritzlerlaw@outlook.com</span></a><o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>CONFIDENTIALITY<o:p></o:p></p><p class=MsoNormal>The information contained in this email is intended only for the use of the person or entity to whom it is addressed. This email may contain confidential or privileged information. If you are not the person whose name appears above, or the person responsible for delivering the email to the addressee, you are hereby notified that reading, using, copying, distributing or disseminating this communication is strictly prohibited. If you think that you have received this email message in error, please email the sender at <a href="mailto:fritzlerlaw@outlook.com"><span style='color:blue'>fritzlerlaw@outlook.com</span></a>. Thank you.<o:p></o:p></p></div></body></html>