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What are our options for withdrawing/reinvesting this CD?

Evans, GA |

My daughter received money after my husbands death when she was six years old. That money was held in a trust by the court(CD) until she turned 18. She will be 18 in May of this year 2013. This was completed in Probate court in LaGrange, Tx. I would like to move this money and have it reinvested for her until a later date. As her parent, do I have this option or is it solely her decision once she turns 18? In the time that it has been held in the trust of the court, 12 years, I've never inquired about it's worth. Is that something I can do? Any advice would be appreciated. Thanks, Tiffany

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Best Answer

You posted in a part of AVVO directed to Georgia lawyers. Since this involves a Texas court order, repost using a Texas address, or better yet, have a lawyer in Texas review the court order.

If you find this answer helpful, please mark it here on AVVO as helpful. In answering you, I am attempting to communicate general legal information and am not representing you (and am not your lawyer). Do feel free to call me at 404-768-3509 if you wish to discuss actual representation (the phone call also does not retain counsel; that requires an office visit and appropriate paperwork). In that a forum such as this provides me with limited details and doesn't allow me to review details and documents, it is possible that answers here, while meant to be helpful, may in some cases not be complete or accurate, and I highly recommend that you retain legal counsel rather than rely on the answers here. (You can also email my office at . An email also does not retain my office, but can help you get an appointment set if you prefer not to call). I am happy to discuss possible representation with you. Any information in this communication is for discussion purposes only, and is not offered as legal advice. There is no right to rely on the information contained in this communication and no attorney-client relationship is formed. Nothing in my answer should be considered as tax-advice. To ensure compliance with IRS Circular 230, any U.S. federal tax advice provided in this communication is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein. I am also required to advise you, if your question concerns bankruptcy, that the U.S. Congress has designated Ashman Law Office as a debt relief agency that can help people file bankruptcy.



Thank you Mr. Ashman.


I agree with Mr. Ashman- this sounds like a Texas law question, and I suggest you try posting it using a Texas address so more Texas-licensed attorneys can see it.

Just based on the statements you've made, it sounds like your daughter may be able to make her own decisions about the CD once she's 18, but you really should consult a Texas attorney about the issue.

This answer is not intended to provide you with specific legal advice regarding your situation, or to create any attorney-client relationship. The intent is only to provide general information. You should be aware that you cannot rely on this answer to provide you with any protection against tax penalties. You should always consult your own attorney in order to obtain legal advice.



Thank you Ms. DiSalvo.

Loraine M. DiSalvo

Loraine M. DiSalvo


You're welcome. Also, if it turns out that your daughter does have control of the CD at 18, she could still give you power of attorney and allow you to reinvest the proceeds on your behalf, if she's willing to do so and mentally competent. Thought I should mention that. I would suggest finding a good estate planning attorney in the state where your daughter has her primary residence to prepare the power of attorney.

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