Expert: Jim Meadows - 9/30/2009

Question
I received my husbands federal tax return some time ago but I have not cashed it because I cant seem to get a straight answer.  He is currently incarcerated and does not want the check mailed to him because he does not want to have a large amount on his books.  Apparently that can be used against him in there not sure why but that is what he is requesting and Im not taking any chances.  

We used to have a joint account but I removed myself for personal reasons when I noticed there was some discrepancies in our account.  Well I now have my own account with that same bank an was wondering how I go about getting this deposited.  I cant put him on the account for obvious reasons as well as he had our old account in the negative when they closed it.  

I guess my question is can I have him sign it during one of our visitations and then deposit it into my account even though he is not on that account?  Or do I need to obtain a durable power of attorney to handle this financial transaction?  Any information that you can give me will be greatly appreciated.  Thank you.

Answer
Mrs. Harvey, The most straight forward solution is what you have suggested: take the check to your husband, have him endorse it "exactly as drawn" and then take it to your bank for deposit to your account.

Saying that, it's possible  that your bank will not accept the check for deposit because they did not witness your husband's endorsement. The likelihood that they would question the endorsement depends on their policy, the amount of the check and the strength of your relationship with the bank. The safest course might be to discuss your situation with a bank manager to make sure that they will accept the check for deposit after your husband has endorsed it. Jim