+ Reply to Thread
Results 1 to 2 of 2
  1. #1
    Join Date
    Mar 2005

    Custodian refuses to sign off on UGMA account... help please!!

    What is the name of your state? - Pennsylvania.

    Hey guys,

    Amy(my fiance)'s dad was assigned custodian of a UGMA (uniform gifts to minors) account that contained money given by her grandparents when she was a little kid.

    Her parents seperated when she was 19, and are still going through a messy divorce (she's 28 now).

    Her father has refused to sign off on the account, citing that those funds belong to him. We're pretty sure his lawyer told him to do this.

    Amy's responsible for the taxes, and pays them, but has no access to the money, and a month or so, her dad even changed the address, so she doesn't receive the statements anymore...

    I know that legally, the money is hers, but we've spoken to the bank, and they say that they require documentation from the custodian to sign off on it, even though she's well past the age of majority. He won't sign off.

    I have spoken to the bank, and they're requesting copies of the legal documents that show that it's legal for her to remove it without her fathers co-signing. Any ideas?

  2. #2
    Join Date
    Feb 2002
    Bikini Atoll
    Have your fiance hire an estate attorney and petition the court to discharge the custodian, release the funds from the bank to fiance, and permission to access to all information regarding the account. Bring original court order to the bank.

+ Reply to Thread

Similar Threads

  1. Certifcation of Appointment for ugma account
    By Mark007 in forum Probate and Personal Representatives
    Replies: 2
    Last Post: 05-21-2008, 03:07 PM
  2. brother refuses to sign anything
    By spike808 in forum Probate and Personal Representatives
    Replies: 3
    Last Post: 05-29-2005, 09:43 PM
  3. elders custodian will not sign release
    By maril in forum Other Real Estate Law Questions
    Replies: 0
    Last Post: 11-08-2001, 05:28 AM
  4. Custodial Account for 22 year old, Custodian dies
    By littleLeslie in forum Wills, Trusts and Estate Planning
    Replies: 0
    Last Post: 11-01-2001, 11:23 AM
  5. Transfer of UGMA Account into a Trust
    By Richard Chehovin in forum Wills, Trusts and Estate Planning
    Replies: 2
    Last Post: 01-10-2000, 09:19 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

© Since 1995 Advice Company, All Rights Reserved

FreeAdvice® has been providing millions of consumers with outstanding advice, free, since 1995. While not a substitute for personal advice from a licensed professional, it is available AS IS, subject to our Disclaimer and Terms & Conditions Of Use.