Legal Question in Wills and Trusts in New Jersey

UGMA or UTMA

My Father established an UGMA with him as custodian and me as the beneficiary (I am 38). Not knowing how the account worked, I did not request the account nor did he offer to give it to me prior to his passing in 2006. Do I have a right to the dividends paid from when I turned the age of 18 to his passing?


Asked on 7/29/08, 12:46 pm

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: UGMA or UTMA

I am presuming the dividends were not reinvested, and were used by your father for his personal benefit, not for you. Technically, he was to turn the account over to you at age 21, not 18, and if he did not you would have a possible claim against him (and possibly his estate now that he has passed away). However, you were aware of the account and did nothing for all of these years, so you probably have lost your rights by your inaction all of these years.

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Answered on 7/29/08, 3:18 pm


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