Kendall Joaquim, 43, was arrested for grand theft, identity theft, forgery, and using a computer to commit a theft, Sgt. Mike Raasch said.
Joaquim posted bail and was released from the Sonoma County jail, a jail spokeswoman said.
She is scheduled to be arraigned in Sonoma County Superior Court Tuesday morning.
In late October, Joaquim's estranged husband discovered Joaquim had stolen the $30,000 inheritance check intended for his daughter's college education, Raasch said.
The money was an inheritance from the girl's mother-- Joaquim's husband's late wife, who died of cancer in 2003 and intended for her two children to inherit the money over a period of time, Raasch said.
Raasch said that Joaquim cashed the check and used the money for personal expenses.
Joaquim's estranged husband found out about multiple thefts she allegedly committed when he scrutinized his bank accounts and learned Joaquim withdrew the money out of both his children's bank accounts without authorization, Raasch said.
Joaquim also withdrew money from her estranged husband's retirement account and got a $30,000 loan in his name so she could attend college, Raasch said.
The case is still under investigation and Joaquim could face more charges, Raasch said.