Accused of education fund fraud

[LyndaJK]

My 19-year old goddaughter has accused me of fraudulent use of her SSN and apprently intends to take me to court to retreive funds from a defunct account that I had originally earmarked for her college education. On the advice of my financial advisor last year I transferred the funds into a different account, which somehow incurred a transaction on her SSN.

Have I done something illegal?

 

[ALawyer]

You and your goddaughter should really speak to each other.

Whose money was it? YOUR -- in which case you can do anything you want with it, or hers, in which case it is hers and you can't use it as your own money.

I do not see how her SS# should have been involved at all, if it was you money. If you had established an account gor her under the Uniforn Gifts to Minors Act, ask your banker as in many states the kids are entitled to get the money at the mature age of 18..... But that money is hers, not yours. If you merely trransferred it from one UGTMA account to another UGTMA account she has no beef.