15 Nov Mom died and then her ANCHOR check came. Can I cash it?

Q. My mother passed away on Oct. 16, 2024. I just received her check for the ANCHOR payment which was dated Oct. 17, 2024. I am the heir. Can I cash the check?
— Heir

A. Condolences on your mom.

The good news is that you can probably use that check.

That’s because the current ANCHOR benefit is for the 2021 tax year.

Your mom would have had to be eligible for the benefit as of Oct. 1, 2021, and it seems she was.

You’ll want to check with your bank about cashing the check. It will probably have to be deposited into an estate bank account, which an executor will typically open to manage an estate’s finances.

You will want to keep track of future ANCHOR benefits, too. If she would be eligible for the 2022, 2023 and 2024 benefits — assuming those come with the same Oct. 1 eligibility dates — her estate would be eligible for the payments.

So keep that estate account open. The Treasury Department, even if you’re the heir, will not reissue checks in your name, so you’ll need the estate account open to make the deposits.

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This story was originally published in October 2024.

NJMoneyHelp.com presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.