[WSBARP] Jt with Rt of Survivorship Acct.

Wed Mar 23 17:06:54 PDT 2022

If I understand the facts, the bank account (with approx. $300k) is held as JTROS and there is a house that will be sold (and proceeds from the sale).  Assuming the house is owned by the estate, the proceeds of the sale are probate assets (that must be distributed by the PR).  However, the joint bank account is a non-probate asset.  Theoretically, any of the five children can request disbursement of the non-probate assets.  If the PR is concerned, and given that the estate is otherwise solvent, I would consider requesting disbursement in five equal amounts sooner than later.  Just my two cents.  Once the cash is gone, it can be very difficult to “claw back.”

[uc%3fexport=download&id=1W3rEcChy0_E0cCfV5up02mkhwnL6eWIs&revid=0B4P5JoIHdbFaR29EbHlRWHFseFV5STZpSUVGeUNPWldkVDFVPQ]
Inge A. Fordham | Attorney
Fordham Law, PLLC
3218 Sixth Avenue | Tacoma, WA 98406
Office: (253) 348-2657 | Mobile: (206) 778-3131
www.fordhamlegal.com<http://www.fordhamlegal.com>

Confidential Communication: This email is sent to a recipient on behalf of an attorney/law firm, and is information intended exclusively for the individual, entity or company to which it is sent.  This communication may contain proprietary, privileged or confidential information or may otherwise be legally exempt from disclosure other than to the intended recipient.  If you are not the named addressee, you are not authorized to read, print, retain, copy or otherwise disseminate this message or any part of it.  If you have received this email in error, please notify the sender immediately by email or other communication and delete all copies of the message.

From: "Mario Ledesma, Attorney" <ledesmalawoffice at aol.com>
Reply-To: "Mario Ledesma, Attorney" <ledesmalawoffice at aol.com>
Date: Wednesday, March 23, 2022 at 5:00 PM
To: Inge Fordham <inge at fordhamlegal.com>, "wsbarp at lists.wsbarppt.com" <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Jt with Rt of Survivorship Acct.

Thank you for your responses!

Yes, the estate is solvent.  Home of the decedent is going to be sold.  However, the siblings do not get along so I am concerned that any of them could request disbursement, though that may not be an issue since the property will be put on the market.
If you have any questions please do not hesitate to contact me.

Regards,
Mario Ledesma

LEDESMA LAW OFFICES PLLC
Licensed in Washington and Oregon
P. O. Box 1305
Richland, Washington 99352
Tel: 509.946.1248
Ledesmalawoffice at aol.com

This communication is private and confidential.  It is intended to constitute an electronic communication within the meaning of the Electronic Communications Privacy Act, 18 USC 2510. Its disclosure is strictly limited to the recipient intended by the sender of this message.  This communication contains confidential and privileged material for the sole use of the intended recipient and receipt by anyone other than the intended recipient does not constitute a loss of the confidential or privileged nature of the communication.  Any review or distribution by others is strictly prohibited. If you are not the intended recipient please contact the sender by return electronic mail and delete and destroy all copies of this communication.

-----Original Message-----
From: Inge Fordham <inge at fordhamlegal.com>
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>; Mario Ledesma, Attorney <ledesmalawoffice at aol.com>
Sent: Wed, Mar 23, 2022 4:33 pm
Subject: Re: [WSBARP] Jt with Rt of Survivorship Acct.
Is the estate solvent?  I would confirm there are no outstanding creditor claims or any risk of insolvency before requesting disbursement of funds.

[uc%3fexport=download&id=1W3rEcChy0_E0cCfV5up02mkhwnL6eWIs&revid=0B4P5JoIHdbFaR29EbHlRWHFseFV5STZpSUVGeUNPWldkVDFVPQ]
Inge A. Fordham | Attorney
Fordham Law, PLLC
3218 Sixth Avenue | Tacoma, WA 98406
Office: (253) 348-2657 | Mobile: (206) 778-3131
www.fordhamlegal.com<http://www.fordhamlegal.com/>

Confidential Communication: This email is sent to a recipient on behalf of an attorney/law firm, and is information intended exclusively for the individual, entity or company to which it is sent.  This communication may contain proprietary, privileged or confidential information or may otherwise be legally exempt from disclosure other than to the intended recipient.  If you are not the named addressee, you are not authorized to read, print, retain, copy or otherwise disseminate this message or any part of it.  If you have received this email in error, please notify the sender immediately by email or other communication and delete all copies of the message.

From: <wsbarp-bounces at lists.wsbarppt.com> on behalf of Nicholas Pleasants <nick at pleasantslaw.com>
Reply-To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Date: Wednesday, March 23, 2022 at 4:05 PM
To: "Mario Ledesma, Attorney" <ledesmalawoffice at aol.com>, WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Jt with Rt of Survivorship Acct.

If it is joint tenancy with right of survivorship, the account survives, and will not be disbursed automatically by the bank. JTROS is not the same as a beneficiary designation. Theoretically any child could go and withdraw all of it, although if the intent was for it to be split 5 ways, then the children should request the bank to issue 5 checks (or wire transfer, etc.) for 1/5 of the account to each of them.

Nicholas Pleasants | Shareholder

[OseranHahnAttyatLaw 8]

11225 SE 6th Street | Suite 100 | Bellevue, WA 98004
Main: (425) 455-3900 | Fax: (425) 455-9201 | E-mail: npleasants at ohswlaw.com<mailto:npleasants at ohswlaw.com>

CONFIDENTIALITY NOTE: This e-mail message contains information belonging to the law firm of Oseran Hahn, P.S., which may be privileged, confidential and/or protected from disclosure. The information is intended only for the use of the individual or entity named above. If you think that you have received this message in error, please e-mail the sender. If you are not the intended recipient, any dissemination, distribution or copying is strictly prohibited.

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Mario Ledesma, Attorney
Sent: Wednesday, March 23, 2022 1:03 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Jt with Rt of Survivorship Acct.

Hello,

I just filed a petition to probate a will.  The personal representative just found out the decedent's bank account, (his mother) has the five children on as joint with right of survivorship.   I expect the bank will disburse the account funds (approximately $300,000) equally between the children.  Actually, I'm surprised the bank has not done it already, the decedent passed away February 14, 2022.   Am I missing something?
Thank you!

Regards,
Mario Ledesma

LEDESMA LAW OFFICES PLLC
Licensed in Washington and Oregon
P. O. Box 1305
Richland, Washington 99352
Tel: 509.946.1248
Ledesmalawoffice at aol.com<mailto:Ledesmalawoffice at aol.com>

This communication is private and confidential.  It is intended to constitute an electronic communication within the meaning of the Electronic Communications Privacy Act, 18 USC 2510. Its disclosure is strictly limited to the recipient intended by the sender of this message.  This communication contains confidential and privileged material for the sole use of the intended recipient and receipt by anyone other than the intended recipient does not constitute a loss of the confidential or privileged nature of the communication.  Any review or distribution by others is strictly prohibited. If you are not the intended recipient please contact the sender by return electronic mail and delete and destroy all copies of this communication.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20220324/c165cfdf/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 358107 bytes
Desc: image001.png
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20220324/c165cfdf/image001-0001.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.png
Type: image/png
Size: 358108 bytes
Desc: image002.png
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20220324/c165cfdf/image002-0001.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 10178 bytes
Desc: image003.jpg
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20220324/c165cfdf/image003-0001.jpg>