Legal Question in Wills and Trusts in Georgia

I have a question concerning the 529 college savings account. My friend's parents are divorced and he is largely estranged from his mother. His maternal grandfather, however created 529 plans for my friend and his sister, and on the grandfather's death made the mother the custodian. The mother is now threatening to not allow any of the money to go to them for their education, despite the wishes of the diseased grandfather. Is there any legal path for reclaiming the account or forcing the custodian to use the money in the account to match the wishes of the original creator, the grandfather? My friend is 18.


Asked on 1/22/17, 5:47 am

1 Answer from Attorneys
Rachel Hunter

Then your friend needs to see a lawyer, not you. I am not clear on the terms. There are many 529 plans out there. You also do not indicate where the mother and friend live now and where grandfather lived at the time of his death. Different states have different rules so I am not sure what state law controls here or what it says about custiodial accounts. Also, how did grandfather appoint mother? By will? Grandfather is dead. His wishes do not matter unless he created a trust of some kind. There has to be a mechanism fr removing a custodian. Is she r required to disburse funds? If she is not complying with the law then she can removed. But your friend should start with a lawyer who practices in the county/state where grandfather lived at the time of his death. your friend will also need to know w here this 529 account was set up and how the mother was made custodian.

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Answered on 1/22/17, 8:58 pm


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