Answers.com > Wiki Answers > Categories > Business & Finance > Personal Finance > Money Management > Banking > How cash check payable to trust?

How cash check payable to trust?

In: Banking [Edit categories]

Answer:

Cashing a check payable to a Trust

I am fairly certain that the simple answer is, "You cannot." You must first deposit the check into the Trust Account and then disperse funds from the Trust Account via writing a check from the Trust Account. Obviously only persons authorized to transact the Trust's business may write checks off of the Trust Account. By doing this, the audit trail or "paper trail" of the Trust Account remains intact.

First answer by WhirledPeasLover. Last edit by WhirledPeasLover. Contributor trust: 15 [recommend contributor ]. Question popularity: 15 [recommend question].

[report abuse]

Can you answer these Banking questions?

	How do you write a letter to bank manager for handover my passbook to my father?	Answer it!
	How many years do the members of the federal reserve board of governors serve?	Answer it!
	What are the problems of using HSBC universal banking software?	Answer it!
	What if you cash a check that someone stopped payment on?	Answer it!
	What is net profit earned by the bank for the bank?	Answer it!

Relevant answers:

When can checks be made payable to Cash?
A check made out to cash is "bearer paper" it can be cashed by anyone who holds it. An equivalent bearer check is, "Pay to the order of a happy birthday" written on the front, or, "Pay to the order...
Is it possible to cash a check payable to the estate of?
You cannot cash such a check unless you have been duly appointed by the court as the Executor or Administrator of the estate.
How much cash can you cash a check for?
The value of the check is fixed and it cannot be negotiated or changed. The amount entered in the check is the exact amount anyone who deposits this check will get. Not a dollar more and not a dollar...
How do you cash a check payable to a trust if both trustees have passed and their is no trust?
You have at least two options. If possible, you could cash the check at the bank the check is drawn from. You would need to show proof of your identity, proof of the trust and proof of your...
Is it legal to cash a check made payable to a business?
Yes, as long as you are cashing the check on behalf of the business (as a legal representative of the business) or if you are depositing the check into the account held by the business you can...