Skip to content
BOL Conferences
Thread Options Tools
#1367873 - 04/01/10 03:53 PM Check payable to a Trust - Question
RBanker Offline
Power Poster
Joined: Jul 2003
Posts: 2,675
Austin Texas
Customer, John Smith, on a consumer account with son and daughter-in-law - brings in check payable to the J A & D A Smith Living Trust, John Smith and Dolly Smith, Trustees - what options does one have?
Do both trustees have to endorse (I don't know why I'm having a brain cramp) or is the "and" in their, simply copying over that John and Dolly are both Trustees - we think Dolly just deceased - ugh - I hate April 1 - all the kookie stuff is coming out- -
Last edited by R Banker; 04/01/10 04:06 PM. Reason: Better subject line
My comments are absolutely no reflection of, nor influenced by, my employer - take them at your own risk.

Return to Top
General Discussion
#1367893 - 04/01/10 04:12 PM Re: Check payable to a Trust - Question RBanker
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
It's payable to the trust, not the trustees. Unless the trust required both trustees to act in concert, either one can sign on behalf of the trust.

However, your problems are 1) you do not know whether the trust required both trustees to sign and 2) trustees are not supposed to cash checks payable to the trust. On its face it's a breach of fiduciary duty for which your bank could and should be found liable.

In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

Return to Top