FBO Check Help
I need some help with an FBO check. My grandparents left my son money for school when they passed away about a decade ago. My aunt (the executor of the estate) put it in some type of investment account that she managed. My son is now starting school and my aunt “cashed out” the money and received a check paid to the order of:
(Aunt’s name) CUST
FBO (Son’s name)
We’re trying to figure out how to get this money to help pay his tuition. To throw a wrench into things, my son doesn’t have a traditional bank account, only Venmo (that’s where his paychecks were deposited). Is it possible to somehow have my son cash this check at my CU and then deposit it into my account? Or do we need to get him his own account in order to make the deposit? Or something else entirely?
Thanks for any advice