What is the name of your state? Michigan
Sam's grandmother, in around 1992, established and was custodian of a UGMA account for him. Sam's parents divorced in 1998. In 2000 grandma took the money out of Sam's name and ss#.
Up until 2000 I (Sam's mother) was paying taxes on this account. I asked in 2000 about the 1099 for the fund and was told that it was "taken care of" Recently I asked Sam's Grandmother for an accounting of the money as Sam is now 16 and talking about colleges. She will not provided it and claims that Sam's father has been spending the money over the last 7 years ($23,000 in 2000) on Sam for cell phone costs, vacations, sports etc. Isn't this a violation of the UGMA to take the money out of Sam's name and give it to his father to spend over the years as he sees fit without documentation of where it really went? and can I bring suit to reclaim this lost money? Sam is now 16. The father has an income of $100,000 a year and it seems incredible that he could have spent this much money on Sam, especially since the father lives in another city and does not have physical custody of Sam.
Sam's grandmother, in around 1992, established and was custodian of a UGMA account for him. Sam's parents divorced in 1998. In 2000 grandma took the money out of Sam's name and ss#.
Up until 2000 I (Sam's mother) was paying taxes on this account. I asked in 2000 about the 1099 for the fund and was told that it was "taken care of" Recently I asked Sam's Grandmother for an accounting of the money as Sam is now 16 and talking about colleges. She will not provided it and claims that Sam's father has been spending the money over the last 7 years ($23,000 in 2000) on Sam for cell phone costs, vacations, sports etc. Isn't this a violation of the UGMA to take the money out of Sam's name and give it to his father to spend over the years as he sees fit without documentation of where it really went? and can I bring suit to reclaim this lost money? Sam is now 16. The father has an income of $100,000 a year and it seems incredible that he could have spent this much money on Sam, especially since the father lives in another city and does not have physical custody of Sam.