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<font face="Times New Roman, Times, serif">Possible strategy.
Inform the CU that a trustee has statutory authority to appoint
agents to "</font>assist the trustee in the performance of the
trustee's duties or to perform any act".
<a class="moz-txt-link-freetext" href="https://app.leg.wa.gov/RCW/default.aspx?cite=11.98.070">https://app.leg.wa.gov/RCW/default.aspx?cite=11.98.070</a><br>
<br>
The Financial Institution Individual Account Deposit Act, <a
moz-do-not-send="true"
href="https://app.leg.wa.gov/RCW/default.aspx?cite=30A.22">RCW Ch.
30A.22</a>, applies to a "<span
id="ContentPlaceHolder1_dlSectionContent"><span>credit union
authorized to do business and accept deposits in this state
under state or federal law". 30A.22.040(8). The Act authorizes a
CU to establish "agency accounts". 30A.22.050(4). And RCW
30!.22.170 expressly permits a CU to allow withdrawals upon the
order of any agent of any depositor.<br>
<br>
So read the CU's depositor account agreement to see if the CU
offers agency accounts. If it does, urge its managers to
recognize that it is protected from liability by these statutes,
and that the trustee depositors should be allowed to add their
daughter as an agent to their deposit account.<br>
<br>
Doug Schafer, in Tacoma.<br>
</span></span><br>
<br>
<div class="moz-cite-prefix">On 5/17/2022 09:07, Jennifer Johnson
wrote:<br>
</div>
<blockquote type="cite"
cite="mid:FjGKDl0t6kfTdJMfnKDAgYGhUUc_DB10FSdVOhp8_gIYFsx1QvE9MKijgqRiZFFAiRx4jcThdB-_orsinjkGpOEqRS6_ZmrhWXwxzbZIlsc=@haniganlaw.net">
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<div style="font-family: arial; font-size: 14px;">Good morning
all,</div>
<div style="font-family: arial; font-size: 14px;"><br>
</div>
<div style="font-family: arial; font-size: 14px;">Clients are
trustees of a revocable trust that has checking accounts at a
local credit union. They want to add their daughter (not a
trustee) as a co-signer on the accounts so she can pay bills
when they are away. Their trust agreement does not prohibit
this.</div>
<div style="font-family: arial; font-size: 14px;"><br>
</div>
<div style="font-family: arial; font-size: 14px;">Credit union
said no, she has to be a trustee in order to be a co-signer.
They don't want her to be a trustee. We drafted a limited
power of attorney just for this purpose, and the bank said they
would keep it on file but that there was no guarantee that it
would be honored. This made clients nervous (they are deeply
mistrustful of financial institutions) and even more sure that
they want her to be a co-signer.</div>
<div style="font-family: arial; font-size: 14px;"><br>
</div>
<div style="font-family: arial; font-size: 14px;">I haven't had a
chance to speak with anyone at the credit union to see what we
can work out, but I'm wondering if this is generally a bank
policy that there isn't a way around? Has anyone included
specific language in their trust agreements that convinces banks
to accept a non-trustee signer on a trust account?</div>
<div style="font-family: arial; font-size: 14px;"><br>
</div>
<div style="font-family: arial; font-size: 14px;">I appreciate any
insight you all may have.</div>
<div style="font-family: arial; font-size: 14px;"><br>
</div>
<div style="font-family: arial; font-size: 14px;">Thank you,
Jennifer</div>
<div style="font-family: arial; font-size: 14px;"><br>
</div>
<div class="protonmail_signature_block" style="font-family: arial;
font-size: 14px;">
<div class="protonmail_signature_block-user">
<p class="MsoNormal"><i><b>Jennifer M. Johnson</b></i><br>
</p>
<div><b>Title Officer | Attorney</b><br>
</div>
<div>Wahkiakum Title & Escrow Co.</div>
<div>Hanigan Law Office, PS<br>
</div>
<div>68 Main Street / P.O. Box 39<br>
</div>
<div>Cathlamet, WA 98612<br>
</div>
<div>(360) 795-3494<br>
</div>
<div>(360) 795-3001 (f)<br>
</div>
<div><a class="moz-txt-link-abbreviated" href="http://www.wahtitle.com">www.wahtitle.com</a></div>
<br>
</div>
<div style="font-family: arial; font-size: 14px;"><br>
</div>
<div class="protonmail_signature_block-proton"> Sent with <a
target="_blank" href="https://protonmail.com/" rel="noopener
noreferrer" moz-do-not-send="true">ProtonMail</a> secure
email. </div>
</div>
<br>
<fieldset class="moz-mime-attachment-header"></fieldset>
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