Legal Question in Family Law in Missouri

Co-conservatorship of childs account

My wife and I are the co-conservators of our 7 year olds account ($100,000 she received in a settlement). It is invested in a mutual fund and CD's and small amount in money market. It has grown conservatively over a few years. We went to court one time to request withdrawal for preschool expenses, approved. Need to know if there is anyway to get more control of the funds, even a portion of it, for instance any amount over the principal settlement amount. As of now we cannot withdraw $1 without actually going to court to get approval. We are responsible parents and live on a budget, would just like for our daughter to have nice things sometimes without the hassle of the courts.

Also, we just moved to Arkansas, not sure about any differences in the laws between states.


Asked on 5/21/07, 1:05 pm

1 Answer from Attorneys
Brandon Moffitt Moffitt & Phillips, PLLC

Re: Co-conservatorship of childs account

It is unlikely that a court will give you more control over the account (because the Court wants to retain the money for the child). If you can identify specific things you would like to do for your daughter and spend the money modestly, the court is likely to approve the distributions you request.

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Answered on 5/22/07, 1:16 pm


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