Union County, NJ – Union County Surrogate James S. LaCorte has provided Union County residents with the following alert on bank policy impacting the orderly processing of estates:
As some of you may know the Surrogate’s Office is responsible for assisting residents in the orderly process of estates after the death of a Union County Resident. As Surrogate of Union County, one of my obligations is to alert residents of potential problems with the processing of residents estates.
Recent events concerning Bank of America, Chase and Wells Fargo Banks compel me to warn residents that their loved ones may confront severe problems when they attempt to manage their deceased loved ones assets at the time of their death. Chase Bank has displayed in the recent past a refusal to follow New Jersey Law and instead follow their own bank instituted policy which adds expense and delay to the orderly processing of the decedents estates. Bank of America and Wells Fargo have acted in a similar manner on many occasions.
I am therefore advising Union County Residents that commencing or continuing a banker-customer relationship with Bank of America, Chase and Wells Fargo Banks may cause several unforeseen impediments with the timely processing of your estate after your death or the death of a loved one.
Please remember this alert when deciding to commence or continue a financial relationship with Bank of America, Chase Bank or Wells Fargo Bank.
The Surrogate’s Office is established under Constitution of the State of New Jersey. The Surrogate is responsible for assisting residents in the orderly process of estates after the death of a Union County resident, and is obligated is to alert residents of potential problems with the processing of estates.
For information on the programs and services of the Surrogate’s Office, visit online at ucnj.org/surrogate or call 908-527-4280.
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