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Utma custodian

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purplelite

Junior Member
What is the name of your state (only U.S. law)? Wisconsin....


Does anyone know if once you are custodian of an account which is UTMA, and you wish to pull it and put it somewhere else, do I have that right? being the custodian. My stockbroker is saying that I cant do that according to some law?

It has to remain in their agency till my daughter is age 21?
 


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anteater

Senior Member
purplelite said:
What is the name of your state (only U.S. law)? Wisconsin....


Does anyone know if once you are custodian of an account which is UTMA, and you wish to pull it and put it somewhere else, do I have that right? being the custodian. My stockbroker is saying that I cant do that according to some law?

It has to remain in their agency till my daughter is age 21?
Click to expand...
Stockbrokers = legal geniuses when it comes to prevention of transfer of money from their clutches.

Simple... Ask him or her to cite the provision. If he/she can't do it, set up the UTMA account at the institution to which you wish to transfer the assets and ask them to initiate the transfer.
 
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