Does an 18 year old have legal rights to access information on a Roth IRA that was set up for them while they were a minor?

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Does an 18 year old have legal rights to access information on a Roth IRA that was set up for them while they were a minor?

I believe I have earned (as a minor working for my aunt) at least $6,000 which has been placed in a Roth IRA for me by my aunt and mother as “guardians”. Due to family violence, I moved out of the home at age 18 and am financially independent, working and going to college. The family are refusing me any information about my IRA account including the bank with whom it is with and an account balance. Do I have rights as an 18 year old to monitor my own IRA and, if so, how do I proceed?

Asked on March 5, 2012 under Estate Planning, Colorado

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you have a designated Roth IRA account in your name and you are now an adult (over the age of 18 years of age), you are entitled to have information concerning this account. Unless there is some trust or other designation as to when you have access to this Roth IRA, you as an adult have the right to monitor and control this account without anyone else telling you how it is to be utilized.

The key is to get a copy of the paperwork concerning this account.


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