Legal Question in Family Law in Missouri

Custodial withdraws from college savings

My ex-wife was named as trustee for 2 college saving accounts for my children. Both held under the Uniform Gift to Minor's act. She has remarried and re-divorced. Both accounts have dwindeled from the upper 20k's to less then 1k with no outward signs of benifit to my childern. Can she do that? Do I have the right to know where the money went? Do I have a legitmate case?

Thanks


Asked on 12/07/04, 2:31 pm

1 Answer from Attorneys
Anthony Smith LawSmith

Re: Custodial withdraws from college savings

You may be able to brid an action on behalf of the children of an accounting of the accounts. Basically, you would force her to show where the money went. Then, if it appears that the money was not used in conjunction with the trust language, you may have other options.

Find an attorney in your area, who does trust or other fiduciary work, to initiate the accounting action.

Good Lcuk,

Tony Smith

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Answered on 12/08/04, 12:23 pm


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