Legal Question in Civil Rights Law in Kentucky

Legal rights to assets

I am 24 years old. When I was a minor, I opened a savings account, and my father was also listed on the account. Unfortunately, I never removed his name from the account. Since then, my parents have divorced and my father has moved out of town. My father apparently did not pay the divorce lawyer, and the lawyer ''cleaned out'' the ~$1000 dollars in the savngs account. My real question is, How can I get my savings returned to me? But, I would also like to know the legal process that allows someone to take what is clearly my money, without my knowledge or consent?


Asked on 8/26/08, 10:01 am

1 Answer from Attorneys
Thomas McAdam Thomas A. McAdam, III, Attorney

Re: Legal rights to assets

Many people do not understand that a joint checking account creates a legal joint and several ownership interest in the deposited funds. Anyone with a legal judgment against either one of the parties on the account may garnish (remove) all or part of the funds to satisfy a debt.

Your only recourse is to ask your father to reimburse you for the funds which were used to pay his debt. If he refuses, you will have to file a lawsuit against him to recover your money; or just forget about it and chalk it up to experience.

Some of life's lessons are more expensive than others. If you co-sign for someone, you have agreed to pay all of the debt, if the other party defaults. Similarly, if you place another person's name on a deed or bank account, you have subjected the asset to all claims of the other person's creditors.

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Answered on 8/26/08, 2:04 pm


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