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Deposited Spouse’s Estate Check into His Account

Answered by: 
John Burnett

Question: 
We have a customer who has an insurance check made payable to the estate of his spouse. He was not required to open an estate account as all assets were jointly held and he would like to deposit this check into his personal checking account. Is this an acceptable transaction?
Answer: 

The estate is a separate person under the law and unless he's its personal representative, he has no authority to negotiate the check. He may be able to obtain a court appointment for the purpose of clearing up loose ends like this one. Alternatively, he may have to give the check back to the insurance company, explain the situation and persuade the company to reissue the check to him personally.

First published on BankersOnline.com 10/08/07

First published on 10/08/2007

Filed under: 
Operations
Filed under operations as: 
Estate

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