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UTMA - Who can Endorse Check?
by Barbara Hurst, BOL Guru
Guru bios

QUESTION: We have an account for an 18 year old (his name individually - Chuck Doe). He brings in a check drawn on another FI, payable to John Doe custodian, Chuck Doe UTMA. It is endorsed by John Doe (although not in our presence) and presented by Chuck for deposit to his personal account. How should we handle this? Clearly there are issues with whether it is actually John's signature but what else on the UTMA side?

ANSWER: Your state laws will have an effect on how you handle this. Some say Chuck is no longer a minor at age 18, and some say 21. So first you'll look to the state to see if Chuck is of age. If not - the check will have to go into the UTMA account. If he is of age, you should contact the trustee to see what the deal is. I wouldn't accept a second endorsed item that way to begin with.

First published on 1/7/02

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