Bank Law Monitor

Bank Law Monitor

A Legal Blog for the Financial Services Industry

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How Does Washington’s New Power of Attorney Statute Impact Banks?

Posted in Trending News, Trust and Estates

Washington has adopted the Washington Uniform Power of Attorney Act (“The Act”) which becomes effective on January 1, 2017 (ESSB 5635). The Act completely replaces Washington’s current law and has some key differences that need to be considered when a bank accepts a power of attorney. The Act applies to all powers of attorney including… Continue Reading

Trust Law Modernization in Washington State

Posted in Trust and Estates

In 2015, two new laws relating to trust administration in Washington State have gone into effect that will make the state a more attractive jurisdiction in which to establish and administer trusts. These new trust laws were the product of the Enterprise Seattle’s Financial Services Cluster Study. The study concluded that this region could become… Continue Reading