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HOW DO I REMOVE CUSTODIAN FROM MY DECEASED CHILDS UGMA UTMA ACCOUNT?

Sacramento, CA |
Filed under: Estate planning

MY SON PASSED AWAY IN 2007 (HE REACHED LEGAL AGE IN 2006) THE CUSTODIAN WON'T SIGN OFF THE ACCOUNT. WHAT DO I DO? I CALLED THE COMPANY AND THEY AREN'T ANY HELP AT ALL. THEY TOLD ME I COULDN'T USE A SMALL ESTATE AFF. THE ACCOUNT IS LESS THAN 20,000. I DO HAVE A SIGNED ACTIVE ASSETS ACCOUNT APPLICATION THAT THE CUSTODIAN SIGNED IN JANUARY, 2008 NAMING ME AS SECOND ADDITIONAL ACCOUNT OWNER. CAN I USE THIS?

Attorney Answers 1

Posted

You should be able to use the paperwork naming you as second additional account owner. You will need to provide a certified copy of your son's death certificate.

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Posted

Thank you very much Mr. Hoffman.

David S Hoffman

David S Hoffman

Posted

You are welcome.

Dara J. Goldsmith

Dara J. Goldsmith

Posted

Since you were named as an additional owner after his death, if the financial institution is unwilling to accpet your son's death certificate you may need to get a court order directing the financial institution to accept the affidavit of entitlement. Also you do not mention your son's other parent. You may need to share the proceeds. That may be an issue as well. If you cannot resolve these issues on your own, you should seek counsel to asssit you.

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