[WSBARP] Probate Funds - Estate Account - Treasury Bonds?

[Tom Ashton]

Years ago, I had a similar problem in Whatcom County, but I had an order requiring disbursements from a California probate to be paid into the registry of the court. Clerk didn't much like it, and proceeds were fairly short term (several months) but it worked because the banks didn't want to lose the county's business.
Good luck.

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________________________________
From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> on behalf of Neli Espe, J.D. - Olympic Legal <neli at olympiclegal.com>
Sent: Tuesday, December 19, 2023 1:51:28 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Probate Funds - Estate Account - Treasury Bonds?

Dear Listmates,

Probate estate account have close to 900K. We are trying to open additional estate accounts (with a lot of push back from local banks) to reduce the amount in each account to FDIC insured limit.

Estate may need to be open for another 6-12 months. Beneficiaries are foreign nationals and do not want interim distributions.

The idea of estate obtaining a treasury bond has been floated, but I have little faith in such a course of action.

Any ideas about how one can better handle the situation in the current banking/inflationary climate?

Happy holidays, Neli

___________________________________
   Neli Espe, J.D., Olympic Legal
                360.630.3635
2114 Commercial Ave., Anacortes
            olympiclegal.com<http://olympiclegal.com/>
     Estate & Business Planning
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