Skip to content
GeoDataVision
Thread Options
#1837516 - 07/30/13 12:35 PM Endorsement for Check Payable to a Trust
SunnyFL, CRCM Offline
100 Club
Joined: Sep 2004
Posts: 205
FL
We require that checks payable to a trust be deposited to an account in the name of the trust - not cashed against it - not deposited to a personal account in the name of the trustee. Endorsements and opinions have varied over the years when it comes to endorsements. For example, when the payee on a check reads like the title of the trust: Jane Doe REV LIV Trust UAD 3/3/93, Jane Doe & John Doe Trustees. Many trusts that include the names of the trustees in the title say "and" however, the trust stipulates only one trustee is needed to act. What is the proper way to endorse a check when the payee reads this way?

Return to Top
Deposits and Payments
#1837518 - 07/30/13 12:38 PM Re: Endorsement for Check Payable to a Trust SunnyFL, CRCM
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Quote:
...however, the trust stipulates only one trustee is needed to act.


While it's true that John and Randy are the trustees and that is reflected in the account title, if the "law of the trust" stipulates that they can act independently of one another, there is no other possible source of authority. One signature gets it done...
_________________________
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
#1837599 - 07/30/13 02:50 PM Re: Endorsement for Check Payable to a Trust Elwood P. Dowd
SunnyFL, CRCM Offline
100 Club
Joined: Sep 2004
Posts: 205
FL
Thank you. That was the confirmation I was looking for.

Return to Top

Moderator:  John Burnett