2006-09-12 18:23:07 · 4 answers · asked by perky 1 in Business & Finance ➔ Personal Finance
thanks for your responses that helped alot
2006-09-13 10:16:33 · update #1
Because money that the check is linked to comes from a trust fund. There are probably several reasons why they have a trust fund - super rich or they are older people trying to protect their money for their heirs.
&&&&
2006-09-12 18:31:53 · answer #1 · answered by Firefly 4 · 0⤊ 0⤋
The account was setup as a trust fund and the person listed on the check is a trustee of the trust fund and can withdraw money from or make deposits to the trust fund account.
2006-09-12 19:49:38 · answer #2 · answered by sassy_lassy70 2 · 0⤊ 0⤋
Because the checking account is funded by the trust. The person listed is a signer on the trust account.
2006-09-12 18:30:48 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Because it is a Trust Fund, and falls under different stipulations that banks must be aware of.
2006-09-12 18:31:36 · answer #4 · answered by Snaglefritz 7 · 0⤊ 0⤋