Q: I have utma account that was set up for me when I was still minor. I am an adult now and want to access the money in it.
The custodian will not give me access, I am wondering if there is another way I can get the bank to give me the money from the account without having to go through the custodian. I am now 30, I've had the account ever since I was minor. Is there a way as an adult now that I can bypass the custodian in order to access the money that does technically belong to me?
A: The bank is required to give you the money; or it can give the money to the person who set it up. The reason the bank said no might be because the custodian closed the account--years ago. They will not tell you because they cannot. If there was a lot of money, hire a lawyer.
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