Legal Question in Family Law in California
Hi,
My ex husband has control of our daughter's custodial account and I have control of our son's account. We have a lousy MSA and nothing was written regarding these accounts. I have printed copies of all statements to show him the account for our son has remained stable since our sep and divorce and have asked to see the same of our daughter's account. He refuses saying I should trust him and that I am controlling. He also will not show proof of his life insurance policy. The MSA does state that the policy shall remain in force with the children as primary beneficiaries.
Would the law back up my request to have a check and balance system regarding our children's custodial accounts and does he indeed have the right to refuse to show proof of current life insurance to me?
Thank you.
Lisa
1 Answer from Attorneys
Yes you should be at least entitled to monthly statement, annual statement, and 1099's at the end of the year since either you or your ex will have to report the tax gains on behalf of the child. You may have to go to court to get an order if he refuses. As a custodian holder of the account, he owns the same duty as a trustee.
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