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Home >> Special Situations >> Deceased Individuals
What to do with old beneficiary check
I just found a check dated Dec. 22, 1995, payable to me, proceeds from my deceased grandmother. I don't know how to cash this check, and the one who made this check is already deceased. The name of the bank on the check is Cragin Federal Bank for Savings in Chicago, Illinois. Please let me know if this bank exists or if this name has been changed.
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 In a series of mergers and acquisitions beginning in 1995, Cragin Federal Bank for Savings became part of Bank of America in 2008.
You may be able to get some help from a Bank of America office in Chicago, even though the bank would not be required to pay a check that's now almost fourteen years old. However, it's possible that the account on which the check was drawn has been surrendered to the state as abandoned property (probably Illinois). It's also possible that the account was closed out before any transfer to the state was legally required. If the account was surrendered to the state and you can supply the state Abandoned Property office with the name of the account and bank (at the time of surrender of the funds, it could have been called LaSalle Cragin Bank or LaSalle Bank), and a copy of the check, you might be able to stake a claim to part of the account.
Published on BankingQuestions.com 7/09/09
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