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

[Mark McClure]

In the bankruptcy world, US Bank is certified by the US Trustee’s office to
hold debtor funds in excess of the limits.  For what it is worth.





*Mark C. McClure* *| *
*Managing Attorney *Law Office of Mark McClure, PS

*"Why Retire With Debt?"*1103 West Meeker Street, #101
Kent, WA 98032

Office:  253.631.6484 (Leave Msg - Will be returned within 24 hours)
Email: Mark at McClureLawGroup.com
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*From:* wsbarp-bounces at lists.wsbarppt.com [mailto:
wsbarp-bounces at lists.wsbarppt.com] *On Behalf Of *Jeanne Dawes
*Sent:* Tuesday, December 19, 2023 3:51 PM
*To:* WSBA Real Property Listserv
*Subject:* Re: [WSBARP] Probate Funds - Estate Account - Treasury Bonds?



Check with Umpqua bank and wash. Trust bank. I believe both have accounts
with higher FDIC insurance availability, I know Umpqua does, not sure about
WTB.



*From:* wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com>
*On Behalf Of *Neli Espe, J.D. - Olympic Legal
*Sent:* Tuesday, December 19, 2023 3:51 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

     Estate & Business Planning
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