Trusts and Checks Payable to Estate of Deceased - John Burnett

<a href="http://adserve.bankersonline.com/cgi-bin/advertpro/blink.fpl?region=2&slot=1" target="_top"><img src="http://adserve.bankersonline.com/cgi-bin/advertpro/bimg.fpl?region=2&slot=1&keyword=NULL" border="0"></a>


Site Map Our Sponsors Home

Print Friendly!

Email This Article!

<a href="http://adserve.bankersonline.com/cgi-bin/advertpro/blink.fpl?region=34&slot=1" target="_top"><img src="http://adserve.bankersonline.com/cgi-bin/advertpro/bimg.fpl?region=34&slot=1&keyword=NULL" border="0"></a>

Trusts and Checks Payable to Estate of Deceased
Answer by John Burnett, BOL Guru
Guru BIOS

Question:If you have an account under a revocable or irrevocable trust and the trustees of the trust are husband and wife and one of them dies, can you then accept a check payable to the Estate of the deceased trustee into the account?

Answer: Revocable or irrevocable, a trust is a separate legal existence from the deceased's estate. Checks payable to the deceased individual or to his estate should not be accepted for deposit to the account of the trust.

First published on BankersOnline.com 8/01/05

Home | Compliance | Lending | Operations | Security | Marketing | Technology | eBanking

BOL Archives Privacy Policy Important Disclaimer Recommend This Site ! Contact Us

BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.