Unethical Police Officer

[seniorjudge]

Without proof to the contrary, sure the funds do.

Right again.

 

[aceoftrades]

Further information

Thank you for the fast response even though I don't understand everything being said. As far as him being a police office has nothing to do with me being so upset with the situation as I spent 10 years in the Marine Corps and had given serious thought to becoming a police officer myself and have great respect for the profession. Just thought that if anyone would know how unethical this was it would be a police detective. Anyhow, since my post I have gotten further information. The amount that was withdrawn from the college account was over $5400 and that was after penalties for withdrawing and not being used for college. It was also emptied 11/05/09 my daughter turned 18 on 11/06/09. Any further info you need in discussing this or offering further advise I will gladly get. Thank you again for your help.

 

[Zigner]

Thank you for the fast response even though I don't understand everything being said. As far as him being a police office has nothing to do with me being so upset with the situation as I spent 10 years in the Marine Corps and had given serious thought to becoming a police officer myself and have great respect for the profession. Just thought that if anyone would know how unethical this was it would be a police detective. Anyhow, since my post I have gotten further information. The amount that was withdrawn from the college account was over $5400 and that was after penalties for withdrawing and not being used for college. It was also emptied 11/05/09 my daughter turned 18 on 11/06/09. Any further info you need in discussing this or offering further advise I will gladly get. Thank you again for your help.

What evidence do you have that the amount in the account was given to the parents as trustees on behalf of the child?

 

[seniorjudge]

What evidence do you have that the amount in the account was given to the parents as trustees on behalf of the child?

And how was the account titled? (We don't need personal info...I mean was it John Doe and Jane Doe, husband and wife, or what?)

 

[aceoftrades]

Further information

I'm not sure what you mean by evidence. It was a 529 College Savings Account in my daughters name. There are 2 other accounts as well which were set up at the same time for my daughters 2 step brothers (daughters mother and stepfathers sons) which the funds were provided for by my daughters grandparents as well and which were not emptied by her stepfather.

 

[aceoftrades]

Ex wife just told me he was the custodial name on the account along with my daughters name.

 

[aceoftrades]

Any further info would be greatly appreciated.

 

[xylene]

Any further info would be greatly appreciated.

Hire a lawyer for a consultation on your daughters behalf.

 

[>Charlotte<]

Which state is administering the 529 account? I happen to be researching 529's currently, and my immediate understanding is that the account is owned by the person who opened it, not the beneficiary.

At any rate, each state has different rules.

 

[Ohiogal]

I also would run past the attorney whether it would be wise to file a police report for embezzlement. Being a convicted criminal, while being employed as an officer of the law, probably do not go well together.

How was it embezzlement? It was HIS account.

 

[Ohiogal]

It seems this case comes down to whom those funds in that bank account belong.

Her funds don't be SuperCop STBXSdad's money because it is in 'his' account with his SSN and everything...

Actually no -- the funds are presumed to belong to the person whose account they are in. The person claiming said funds would have to prove that the money was theirs. Oh and your grocery buggy idea -- yeah -- that fell apart because you are in a grocery store where items are to be purchased.

There are laws regarding such. As there are laws regarding banking and the banking laws appear to be on stepdad's side.

 

[aceoftrades]

The 529 account is in Pennsylvania

 

[>Charlotte<]

The 529 account is in Pennsylvania

The money is owned by the stepfather and he can terminate the plan at will (or change the beneficiary). It's a big tax hit, but he can do it.

 

[xylene]

The person claiming said funds would have to prove that the money was theirs.

That seems pretty simple - grandparents establish a college trust for granddaughter, custodian of those funds (mom) places those funds in an account with her and the husbands name (AND their social security number) and then funds are expropriated...

With such convoluted financial transactions involving the the social security numbers of 2 people, Dad, adult Daughter, and their lawyer will never be able to unravel that kind of proof.

They might as well just give up now because it's hard to understand how a policeman could engage in a civil tort against their stbx wife's kid by another man.

 

[anteater]

Which state is administering the 529 account? I happen to be researching 529's currently, and my immediate understanding is that the account is owned by the person who opened it, not the beneficiary.

At any rate, each state has different rules.

Yep, the rather odd nature of 529 plans. Contributions are considered gifts, but the plan owner still has complete control.

Unless the funds first went into an UGMA/UTMA and then into an UGMA/UTMA 529, in which case the funds would still retain the UGMA/UTMA character, even if withdrawn from the 529.