How do you negotiate a check for minors when checks are written to both (ie. James and Don Smith)?

Our mother passed away and many friends and family have sent checks for my brothers age 16 and 14. The checks are written to both of them (ie James and Don Smith). I having trouble having a bank cash the checks so that I can set up a normal checking account and save the money for them for college. I do not want to set up a trust and deal with that hassle. I want a checking account that I can transfer the money to an online bank account and receive more interest than a normal checking or savings account.

How do you negotiate a check for minors when checks are written to both (ie. James and Don Smith)?download windows media player

you ask and answer you question do what you said open checking account and transfere money!!!

How do you negotiate a check for minors when checks are written to both (ie. James and Don Smith)?internet explorer update internet explorer

If the banks that these checks are from are local, call them and ask what they will need for 2 minors to cash a check.

If they are not local, then it will be very hard to get the checks cashed. Your local banks will not be able to tell if these checks are good or bad and therefore will not be willing to cash them and take the chance on losing money.

There should be a local bank that is willing to open an account for your brothers as long as an adult is listed on the account as well. Just remember, the checks will have to clear before you can make any withdrawls. Also, most banks that I have dealt with charge a fee if the account is closed within 6 months of opening.

Good luck!