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

[Steve Waltar]

I have a good contact in a Swiss banker.  He is a licensed attorney in Washington who works and lives in Zurich.  Maybe park some funds there.  I can get you his contact info if you like.  He is flying to Seattle tomorrow.

Stephen M. Waltar
Attorney at Law

[cid:image001.png at 01DA3342.5A6CD170]
Legacy Estate Planning, LLC
A division of Stephen M. Waltar PS

2320 130th Avenue NE, Suite 230, Bellevue, WA 98005
info at waltar.com<mailto:info at waltar.com>  |  425.455.6788 o |  425.450.4601 f

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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Mark McClure
Sent: Tuesday, December 19, 2023 4:14 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Probate Funds - Estate Account - Treasury Bonds?

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<mailto:Mark at McClureLawGroup.com>
Web: www.McClureLawGroup.com<http://www.mcclurelawgroup.com/>
Notice of Unavailability:       TBD
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From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> [mailto: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<mailto:wsbarp-bounces at lists.wsbarppt.com> <wsbarp-bounces at lists.wsbarppt.com<mailto: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<mailto: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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