Q: I have a settlement check for wages my husband earned before he passed. As executor can I deposit into our Trust acct?
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- California
- (916) 704-3009
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- Answered
A:
In California, as the executor of your husband's estate, you have the responsibility and authority to gather and manage the assets of the deceased. If the settlement check is made out to your husband or his estate, it should first be deposited into the estate's account. Once deposited, and if the estate's debts and expenses have been paid, and there are no other legal impediments, you can then distribute the funds in accordance with his will or intestate succession laws. If the trust was a named beneficiary or if the funds are otherwise designated to be transferred to the trust, you can then transfer the appropriate amount from the estate's account to the trust account.
It's important to maintain clear records of all transactions to ensure transparency and compliance with your fiduciary duties. If the check is made payable directly to the trust, you may deposit it into the trust account. However, you should consult the trust documents and ensure that such a deposit aligns with its terms. Always consider seeking advice from fellow attorneys to ensure that you're taking the correct steps consistent with California law.
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