Part of the executor's job is to locate and manage the assets of the estate. This may include money owed to the deceased for which a check is received. As the legal representative of the estate, the executor has the right to endorse the check. Typically, these checks are not cashed, but are deposited into the estate's current account and become part of the cash pool used to pay beneficiaries and debts.
A bank account in the name of the deceased person's estate is usually needed to cash an estate check, even for small estates. ii) When a financial institution presents a check endorsed in this way for payment, it will be paid by the Treasury without the presentation of documentary evidence of the authority of the executor or administrator, on the understanding that proof of such authority claimed to support may be required by Treasury in the event of litigation. To open an estate account, you will need a copy of the death certificate, proof that you are the representative of the estate, and an IRS-issued tax identification number for the estate. Cashing an estate check can be complicated if there is no estate, if the estate is too small to require a formal probate process, or if you receive the check after the estate is closed.
You generally cannot cash an estate check with your personal bank account, even if you are the executor or sole beneficiary of the estate, or if you had a joint account with the deceased. The executor MUST open a checking account in the name of the estate if he expects to receive payments. Some banks will also allow you to cash a check with a small inheritance affidavit and a death certificate instead of opening an estate account. An executor or administrator of an estate may not endorse a check issued for any type of payment other than that specified in paragraph (a) (of this section).
For a small or non-existent estate that does not legally require an estate, try to contact the payor of the check directly. I) An executor or administrator supporting such verification must include, as part of the guarantee, an indication of the capacity in which the executor or administrator guarantees. However, if both the probate and probate accounts are closed, you may need a court order to reopen the bank account and deposit or cash the check. You'll need to look at your state's boundaries regarding which estates qualify as “small,” and you may want to consult an attorney to determine if you should open an estate account.
With an estate account, the executor can endorse and deposit checks, and then distribute the funds according to the outcome of the will or estate. If so, take the check to the executor and ask him to write a new one from the estate account.
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