How long until funds are available after depositing an inheritance check? Can I deposit the check directly into a trust account, such as a spend thrift account? My husband has some liens and other issues he is trying to resolve; will my inheritance be garnished for his issues even if the bank account is in my name (business account)?
If the funds are deposited to an account that is in your name only or in the name of a trust, with no ownership interest by your husband, a garnishment or writ of attachment for debts strictly in his name should not reach those funds. Whether you are able to deposit the check directly into a trust account depends on how the check is made payable. It's likely that the check is payable to you personally, so you'll probably have to deposit it first into an account in your name. However, your bank may accept it for deposit to the trust account if you endorse it properly first. Check with your bank for guidance.
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If the funds are deposited to an account that is in your name only or in the name of a trust, with no ownership interest by your husband, a garnishment or writ of attachment for debts strictly in his name should not reach those funds. Whether you are able to deposit the check directly into a trust account depends on how the check is made payable. It's likely that the check is payable to you personally, so you'll probably have to deposit it first into an account in your name. However, your bank may accept it for deposit to the trust account if you endorse it properly first. Check with your bank for guidance.
