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Uniform Gift To Minors Act (UGMA)

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jem6116

Junior Member
What is the name of your state? FLORIDA

I hope I'm posting this in the right area.

My father is the custodian of my college fund, which in an account under the Uniform Gift To Minors Act (UGMA). However, since we get along poorly, he finds excuses not to pay my college fees and other expenses, and refuses to reveal details about the account. I want (a) him to reveal details about the account, and (b) either to give me control of the account, or for some court order to bind him to pay appropriate fees, even ones he "disagrees" with. Is there any way I can do this? I'm aware that the money is legally mine, and that he is bound to use it for my benefit, but that's about all I know.What is the name of your state?
 


Betty

Senior Member
What is the name of your state? FLORIDA

I hope I'm posting this in the right area.

My father is the custodian of my college fund, which in an account under the Uniform Gift To Minors Act (UGMA). However, since we get along poorly, he finds excuses not to pay my college fees and other expenses, and refuses to reveal details about the account. I want (a) him to reveal details about the account, and (b) either to give me control of the account, or for some court order to bind him to pay appropriate fees, even ones he "disagrees" with. Is there any way I can do this? I'm aware that the money is legally mine, and that he is bound to use it for my benefit, but that's about all I know.What is the name of your state?
The UGMA allows a person (in this case your father) to fund an acct. for a child (in this case you) until the child reaches the age of majority which is set by state law. I believe Fl. is age 18. The custodian controls the acct. but the child is the acct. owner. Once the child reaches the age of majority, the custodial relationship ends & child controls the account. How old are you - are you at least 18 yet; I see you are going to college. If you are 18 or older, the acct. probably should have been transferred to you. You might want to check on the age used in Fl. re the UGMA - a few states use an age different than the age of majority (such as age 21 or 25 even if age of majority is 18)
 
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jem6116

Junior Member
The UGMA allows a person (in this case your father) to fund an acct. for a child (in this case you) until the child reaches the age of majority which is set by state law. I believe Fl. is age 18. The custodian controls the acct. but the child is the acct. owner. Once the child reaches the age of majority, the custodial relationship ends & child controls the account. How old are you - are you at least 18 yet; I see you are going to college. If you are 18 or older, the acct. probably should have been transferred to you. You might want to check on the age used in Fl. re the UGMA - a few states use an age different than the age of majority (such as age 21 or 25 even if age of majority is 18)
I'm over 18 but under 21.

As far as I know (and according to sites), Florida's UGMA age is 18 and UTMA age is 21. I'm not sure which he has my money in, and there's no way I can find out from him.

Is there any way I can petition the courts to force him to give me control of the money, or for there to be a court order that forces him to pay appropriate fees, even ones with which he "disagrees"?
 
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Dandy Don

Senior Member
Go to a bank or to any college financial aid office that knows about UGMA's and you can get information from them about what to do.
 

Betty

Senior Member
If you know where the acct. is being held, you could contact that facility though any bank or your college's fin. aid office as indicated by Dandy Don should be able to help you.
 

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