What are my rights if my grandmother set up an investment account when I was born with my dad as custodian but now he won’t give me my money?

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What are my rights if my grandmother set up an investment account when I was born with my dad as custodian but now he won’t give me my money?

Anyway, I asked my dad to get the money from the account for me a few months ago and he did as I asked. He claimed there were problems getting the money out of the account and transferred the money into a savings account in his name that I do not have access too. My father and I are now not on good terms and he refuses to give me access to the money and claims he has invested it but won’t give me access to the investment. I am 19. Has he violated laws and what rights do I have?

Asked on June 28, 2015 under Estate Planning, Mississippi

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

It is hard to determine if there has been a violation of the law without knowing more.  But it does kind of sound like he is hiding something.  You at 19 may want to demand access to the funds by going to court.  He needs to account for the money he has been holding as the fiduciary for your benefit.  Good luck.


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