If I had a checking account that I defaulted on but also have my name on my children’s youth accounts, can the bank take that money to cover my debt?

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If I had a checking account that I defaulted on but also have my name on my children’s youth accounts, can the bank take that money to cover my debt?

Asked on June 20, 2012 under Bankruptcy Law, Missouri

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If your children's youth accounts are really your children's bank accounts where you are their custodian under such accounts since they are minors your bank cannot legally seize these accounts of your children to satisfy in full or in part your own checking account that you defaulted upon.


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