I need to access money in a savings account

[@adviceplease]

Michigan

I have a savings account that was set up for me when I was minor, I need to withdraw some money out of it however my mom will not give me access. How I understand how these accounts work it is my money but you need the approval of the custodian to withdraw it. I need to know if there is any way I can withdraw the cash from it without the custodian and without going to extremes and filing a lawsuit against my mother. Is there a way I can get the money which technically belongs to me out of that account? My mother is disabled and cannot physically go to the bank to fill out the paperwork they want, how can I get the proper documentation done and finally gain access to.my money without her being physically present?

 

[cbg]

How old are you now?

 

[xylene]

My mother is disabled and cannot physically go to the bank

Medivan support could be you cheapest option.

 

[quincy]

What type of custodial account was opened?

 

[@adviceplease]

It's a savings account set up from when inwas minor, she did not give me control at 18 like she should have. Im now 30 and could really use what is my money. I cannot close the account nor can I withdraw money with out the custodian, that would be my mother. How can get my money without her being physically present for the transaction?

 

[justalayman]

Do you have a legal guardian or conservator?

What type of account is it? Is it in your name with your mother listed as custodian or is it simply in your mothers name?

 

[quincy]

It's a savings account set up from when inwas minor, she did not give me control at 18 like she should have. Im now 30 and could really use what is my money. I cannot close the account nor can I withdraw money with out the custodian, that would be my mother. How can get my money without her being physically present for the transaction?

What is the custodial account called? There are different types.

 

[@adviceplease]

It's under my name with her listed as the custodian

 

[quincy]

It's under my name with her listed as the custodian

The account itself has a name.

 

[xylene]

My reply earlier is SUPER accurate. The best, cheapest way is to have an ambulette or medi-van bring her if she's willing.

This is not an an easy situation

OR do you mean she doesn't consent. In that case get a lawyer on contingency.

 

[quincy]

My reply earlier is SUPER accurate. The best, cheapest way is to have an ambulette or medi-van bring her if she's willing.

This is not an an easy situation

OR do you mean she doesn't consent. In that case get a lawyer on contingency.

It depends on the type of custodial account that was opened. Most custodial accounts do not require the custodian's signature once the minor turns 18. Michigan's education accounts operate differently - and even a signature is not going to provide free access to the money in the accounts.

 

[xylene]

It depends on the type of custodial account that was opened. Most custodial accounts do not require the custodian's signature once the minor turns 18. Michigan's education accounts operate differently - and even a signature is not going to provide free access to the money in the accounts.

If the bank has demanded mom's present signature, my suggestion is surely cheapest.

 

[quincy]

It could be cheapest, depending on the type of account. But it also might be a waste of time to have mom go to the bank.

It would help if @adviceplease would/could identify the type of custodial account.

 

[LdiJ]

It could be cheapest, depending on the type of account. But it also might be a waste of time to have mom go to the bank.

It would help if @adviceplease would/could identify the type of custodial account.

I suspect that he/she doesn't know...beyond what he/she has already said.

 

[quincy]

Possibly. He could ask the bank.