Uniform Gifts to Minors Act violation

[no13baby]

What is the name of your state (only U.S. law)? Mississippi/Maryland

I have a trust fund which is controlled by another member of my family. The trust is in Maryland, and I live in Mississippi, but I am of the age of majority in both states (22) and the guardian of my trust has been not only making changes to my account but has transferred funds from the account - though only as per my request as far as I know, as I did not know that the fund should have been transfered when I reached the age of 21.

I have not spoken to the financial advisor at the bank where the trust is held, and I plan to in the morning, but I have some questions.

Is the bank responsible for making sure that the account is closed to the guardian once the minor reaches the age of majority?
Is there any way that I can recoup any losses incurred due to possibly negligent management of the account by the (now unauthorized) guardian? Would I have to seek legal representation to do so?
Will I have to speak to the person who was assigned as the guardian in order to have her removed from the account?
What should I do about the other members of my family (who are over 21) who have not been given control of their trust funds?
Am I allowed to review all the activity on the account in order to ascertain whether it has been appropriately handled?
If the funds have increased since I turned 21, am I still entitled to any profits made with the money by the decisions of the guardian?

I feel silly asking before I even find out how much is left in the account, but I'd like to be as informed as possible before calling the bank.
I am an aspiring law student (finishing my prelaw degree) so if there are any cases of UGMA violation that I might be able to reference for precedent, I'd like to know. I will be doing independent research as well, but this seemed to be a good starting place.

 

[seniorjudge]

Without seeing the trust instrument, we couldn't possibly answer your questions.

You need to hire an attorney in the state where the corpus of the trust and/or the trust was formed is.

 

[anteater]

Is it a trust or an UGMA?

 

[no13baby]

There is not a chance in hades of me ever getting my hands on the will, if that's what you're saying. All I was told is that the UGMA applies to the account and that I should call the bank where it is held. I'm a little hesitant to do that, because if I do, the custodian of the account is extremely likely to react very badly.

 

[seniorjudge]

There is not a chance in hades of me ever getting my hands on the will, if that's what you're saying. All I was told is that the UGMA applies to the account and that I should call the bank where it is held. I'm a little hesitant to do that, because if I do, the custodian of the account is extremely likely to react very badly.

A will?

Are you saying the will set up a trust?

That's called a testamentary trust.

The will is filed in a probate court somewhere and it's public information. Go look at it.

 

[xylene]

What is the name of your state (only U.S. law)? Mississippi/Maryland

I have a trust fund which is controlled by another member of my family. The trust is in Maryland, and I live in Mississippi, but I am of the age of majority in both states (22) and the guardian of my trust has been not only making changes to my account but has transferred funds from the account - though only as per my request as far as I know, as I did not know that the fund should have been transfered when I reached the age of 21.

I have not spoken to the financial advisor at the bank where the trust is held, and I plan to in the morning, but I have some questions.

Is the bank responsible for making sure that the account is closed to the guardian once the minor reaches the age of majority?
Is there any way that I can recoup any losses incurred due to possibly negligent management of the account by the (now unauthorized) guardian? Would I have to seek legal representation to do so?
Will I have to speak to the person who was assigned as the guardian in order to have her removed from the account?
What should I do about the other members of my family (who are over 21) who have not been given control of their trust funds?
Am I allowed to review all the activity on the account in order to ascertain whether it has been appropriately handled?
If the funds have increased since I turned 21, am I still entitled to any profits made with the money by the decisions of the guardian?

I feel silly asking before I even find out how much is left in the account, but I'd like to be as informed as possible before calling the bank.
I am an aspiring law student (finishing my prelaw degree) so if there are any cases of UGMA violation that I might be able to reference for precedent, I'd like to know. I will be doing independent research as well, but this seemed to be a good starting place.

Why are you being vague?

Other member of your family?

You tell us many things that you "have been told" but decline to tell us by whom?

Let's put it this way, you have some basis for believing that your money is being abused.

Get a lawyer.

Being in pre-law does not mean you don't need a lawyer.

 

[anteater]

Get a lawyer.

Being in pre-law does not mean you don't need a lawyer.

But, the custodian is "extremely likely to react very badly."