Legal Question in Wills and Trusts in Pennsylvania
Trust fund
My son recieved a letter from First Commonwealth Bank stating he has a trust in lieu of about $7,000+ and that his father is custodian.
He went to the bank to transfer the account to his bank account in another bank and was told he was unable to touch the money without his dad because he was listed as custodian.
My question is: can he ever withdraw the money Can he do it when he is 25? Is there a legal age when the trust can be turned over?
Asked on 7/07/08, 1:11 pm
1 Answer from Attorneys
Michael Berman
Law Offices of Michael A. Berman
Re: Trust fund
Depending on how the account is titled, he may need his father's signature, regardless of his age. Contact me for more information.
Michael A. Berman, Esq.
Answered on 7/07/08, 2:40 pm
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