No. We believe the custodian may endorse the check but must deposit it into an account designated as “John Doe (Name of Custodian), as a custodian for Sally Doe under the Illinois Uniform Transfers to Minors Act.”

The custodian of an account under the Illinois Uniform Transfers to Minors Act (UTMA) is required to deposit the funds in a separate account from their personal account. The UTMA states that the custodian has the responsibility to “keep custodial property separate and distinct from all other property in a manner sufficient to identify it clearly as custodian property of the minor.” This responsibility is met if the property is held in an account designated, “in the name of the custodian, followed in substance by the words: ‘as a custodian for  ………….. (name of minor) under the Illinois Uniform Transfers to Minors Act.’” 760 ILCS 20/13(d).