trust questions - Posted by William

Posted by Bud Branstetter on July 01, 2003 at 08:06:24:


Most banks will not cash or allow someone to deposit a 3rd party check.

You can direct the title company to make the check payable to another party only if they agree to it.

Banks will put holds on large check deposits for 5 days even if it is intown.

The title copy will have you fill out a form with the SSN and address of the beneficiary who will report the sale so they can send a 1099 to them and the IRS.

The best approach is to have funds wired to avoid waiting periods.

trust questions - Posted by William

Posted by William on June 30, 2003 at 21:27:07:

When someone buys from your trust does the title company make the check out to the trustee? If so, can the trustee just sign the check and then give it to the beneficiary to deposit it?