UTMA ISSUE

sam wilkins

New Member
Jurisdiction
Tennessee
This may or may not be the correct area to post this, if not feel free to move the post. It's a complex issue, I'm 20 years old and am the sole beneficiary of an UTMA account established in Tennessee while both the beneficiary and custodian reside in Kentucky. My mother is the custodian of the account and in the last few months we had a falling out. After the falling out my access to statements as well as online access to view the account was cutoff and my mother verbally told me not to expect any funds to remain in the account when I turn 21 and her custodianship terminates. I'm currently a college student and the UTMA had been paying for rent, tuition, and other living expenses benefitting the beneficiary and this has also stopped. The trust also paid for an insurance policy on my apartment which is solely in my name as was the insurance policy but I received notice the policy was cancelled which I didn't request and when I got the cancellation notice my singnature had been forged on the requesting document. What are my options for relief petitioning the court to have the custodian removed or one appointed by the court ?
 
What I know about UTMAs is that it's YOUR money and what your mother is doing is a breach of her fiduciary duties.

What are my options for relief petitioning the court to have the custodian removed or one appointed by the court ?

That IS your option. Go to court and get her removed or sanctioned.

You'll need a lawyer.

Maybe spending a few hundred to have a lawyer advise her of her duties and the consequences will get her to behave.
 
Back
Top