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  • 1.  Cashier's Check

    Posted 10-22-2024 08:47 AM

    Good morning!

    An alumna named us as a beneficiary of her trust.  The individual acting as the trustee just forwarded the distribution.  However, the distribution came in the form of a cashier's check and carries no reference to the trust.  Instead, it says purchased by, and has the name of the trustee.  

    How then do i attribute this to the trust--or can I?  

    Note:  the name of the trustee is of course noted in the trust document.



    ------------------------------
    Tracy Rush
    Executive Director, Advancement Services
    Otterbein University
    trush@otterbein.edu
    ------------------------------


  • 2.  RE: Cashier's Check

    Posted 10-22-2024 08:53 AM
    As long as you have the trust document, I would ask the trustee to confirm in writing (as a legal representative) that the check represents your portion of the trust and record the payment on the record of the alumna.

    John

    John H. Taylor, Principal
    John H. Taylor Consulting, LLC
    2604 Sevier Street
    Durham, NC     27705

    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


  • 3.  RE: Cashier's Check

    Posted 10-22-2024 08:58 AM

    Thank you John-and thanks for the quick response.

     

    Tracy Rush

    Executive Director, Advancement Services

    Otterbein University

    1 South Grove

    Westerville, OH 43081

    614-823-1290

     

    Please consider a gift to support our students.

    Visit Otterbein.edu/give to show your support. Thank you!

     

     




    Original Message


  • 4.  RE: Cashier's Check

    Posted 10-22-2024 09:01 AM
    I neglected to suggest that if this trust was established many years ago, you double-check and ensure you haven't already counted it.

    Per CASE Standards, if we are named an irrevocable beneficiary of a trust with a stipulated amount or percentage, we should record and count that amount when we are irrevocably named. When we do that, we should not record the distribution when the donor dies.

    John

    John H. Taylor, Principal
    John H. Taylor Consulting, LLC
    2604 Sevier Street
    Durham, NC     27705

    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987





    Original Message


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