<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Abozmiller:
My daughter has a joint savings account with her father at a credit union in Florida. Although she is now 19 years old, the account was set up when she was a minor requiring that he be a joint owner of the account. Recently, the CU transferred funds from this account to pay on a Master Card account that my husband is in the rears on without my daughter's approval. Of course, my daughter is upset over this because she is a college student with limited funds. Is this legal?<HR></BLOCKQUOTE>
My response:
The answer is in your comment. The account was a "joint" account, and not set up as a "Totten Trust" account. As a joint owner, either of the two could have drained the account without liability to the other. In a "Trust" situation, money goes in, but doesn't come out until the minor is of "age" and draws the money out, alone.
IAAL
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