QUESTION
Who cashes an unclaimed funds check in a deceased family members name?
Asked on Jan 18th, 2014 on Estate Planning - California
More details to this question:
My grandmother opened a small life insurance account for her handicapped son years ago. He died in 2010. There was no estate, because he did not own any other bank accounts or property. There were some dividends and unclaimed funds left over from the life insurance, and my grandmother just received a check for "the estate of " (her sons name). Can she legally cash this check? She is listed as the heir, since she was his mother.
13 ANSWERS
Corporate/Business Attorney serving Beachwood, OH
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Christine Sabio Socrates Attorney at Law
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Unfortunately, she will not be able to cash this check if it is made out to the "estate of". She can apply for a release of assets in the probate court or if there is no other estate, sometimes the insurance company will reissue the check if you can prove it is the only asset and she is the only heir. It sometimes can be successful, but it depends on the insurance company.
Answered on Jan 28th, 2014 at 9:28 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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If the bank will not allow her to cash it file a small probate action in the county where he last lived.
Answered on Jan 24th, 2014 at 5:18 PM
Commercial Attorney serving Chicago, IL
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Ashcraft & Ashcraft, Ltd.
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A small estates affidavit will have to be used to either reissue the check or allow your grandmother to open an estate account.
Answered on Jan 22nd, 2014 at 3:46 AM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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It depends on the policy. Some offer a way to avoid probate by paying to the "heirs." If there was no secondary or contingent beneficiary named, then probate is generally necessary. In Michigan, if the amount is less than $21k, then a small estate proceeding is available.
Answered on Jan 22nd, 2014 at 3:45 AM
2 Awards
Your grandmother will need permission from a court to cash the check. If there is no will, no debts, and the check is less than $50k, then you may qualify for a summary proceeding.
Answered on Jan 22nd, 2014 at 3:44 AM
Normally the executor would handle this. If Mom is named on the policy, it is hers to cash. If Mom is the only survivng heir of the deceased, she would also have a claim on it. If there are other recognized heirs, they would split it.
Answered on Jan 22nd, 2014 at 3:44 AM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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Tough one; she might be able to get the insurance company to reissue the check in her name, if she gives them an affidavit regarding heirship.
Answered on Jan 22nd, 2014 at 3:43 AM
Edwin K. Niles
She can endorse the check as written and add her name.
Answered on Jan 22nd, 2014 at 3:43 AM
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If he was not married and had no children and all bills have been paid and the funds are under $20,000 she may use an affidavit of entitlement in Nevada. If any of the above assumptions are not true. She should meet with an estate attorney. Best of luck to both of you.
Answered on Jan 22nd, 2014 at 3:42 AM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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She should probably be able to open a small estate/summary probate estate and get the right to cash the check. Call the local court and see if they have the forms available.
Answered on Jan 20th, 2014 at 5:13 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Who was the beneficiary of the life insurance? That is where the funds should go.
Answered on Jan 20th, 2014 at 4:33 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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You might try to deposit through an ATM.
Answered on Jan 20th, 2014 at 4:33 PM
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If it is under $150,000 she will need to do a small estate affidavit and return the check to have it reissued to her. That is the easiest way. She will need a Certified Death Certificate as well. She can try to present the death certificate and small estate affidavit to the bank to cash it, but typically they will not do it. Good luck.
Answered on Jan 20th, 2014 at 4:33 PM