My grandmother recently passed away and I am the only surviving heir. I just received a check from her life insurance company for $3,000 made out to her estate. I have a joint checking account with her. Can I deposit the check into that account or do I have to set up a separate account? How do I go about doing that? I need the money soon for reimbursement of her burial expenses, etc.
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Life insurance companies are pretty particular how their checks are endorsed, and they will expect this check to be endorsed by your grandmother's estate. That needs to be done by the legal representative of the estate, who will be appointed as executor or administrator by the probate court.
Published on BankingQuestions.com 5/18/07
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Life insurance companies are pretty particular how their checks are endorsed, and they will expect this check to be endorsed by your grandmother's estate. That needs to be done by the legal representative of the estate, who will be appointed as executor or administrator by the probate court.
