My wife was involved in a class action lawsuit. She was entitled to a settlement award, but passed away before receiving the check. Is there anything I can do as the qualified widower with a joint account? Do I need to set up an estate account? I don't think a claims administrator would reissue a check to her spouse, would he?
The joint account is technically no longer in your wife's name; as survivor, you obtained sole ownership of the account on your wife's death, even if you have not asked the bank to update its records of ownership.
As you have surmised, the check can only be endorsed by your wife's estate, through its personal representative, executor or administrator. Whether or not your wife left a Will, consult with an estate attorney to determine how to proceed. There may be a streamlined estate process available if the estate is small enough. Once the estate representative is appointed, the check can be endorsed.
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The joint account is technically no longer in your wife's name; as survivor, you obtained sole ownership of the account on your wife's death, even if you have not asked the bank to update its records of ownership. 