From Kiplinger · · 1m 10s
Inheritance Check Over $10,000: What to Do Next
How to handle a large inheritance check without bank issues.
In brief
How to handle a large inheritance check without bank issues. If you receive an inheritance check over $10,000, contact your bank for solutions like certified mail or a financial adviser to manage the funds securely. Originally reported by Kiplinger.
Inheritance check over $10,000
Most banks won't accept mobile deposits for checks over $10,000.
Bank solutions for large checks
Ask your bank to send the check via certified mail or contact them directly for alternatives.
Partner institutions for deposits
Credit unions and partner institutions may allow in-person transactions if you lack a physical branch.
Cancel check for wire transfer
Contact the will's executor to cancel the check and wire funds electronically.
Open high-yield savings account
Use a high-yield savings account, money market account, or short-term CD for inherited funds.
Choose a savings account
Look for online banks with high APYs, low fees, and FDIC insurance up to $250,000.
Find a financial adviser
Seek a fiduciary financial adviser with reputation, personal approach, and proactivity.
Build lasting wealth
A financial adviser can help pay off debt, save, plan estate, and address financial concerns.
The one thing
If you receive an inheritance check over $10,000, contact your bank for solutions like certified mail or a financial adviser to manage the funds securely.
