UTMA/attorney response, please!


#1

Dear xmedwife:

Greetings. You should file a Motion to Show Cause under the order that gives the funds to your husband to control and your oldest child may want to speak with an attorney about how his account is being used. Good luck.

Janet L. Fritts
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.256.1665 direct fax

301 McCullough Drive Suite 510
Charlotte, North Carolina 28262
704.644.2831 main voice
704.307.4595 main fax

1829 East Franklin Street, Bldg 600
Chapel Hill, NC 27514
919.321.0780 main phone
919.787.6668 main fax

ROSEN.COM

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.


#2

The judge gave control of both of my children’s UTMA accounts to my ex and the accounts contain substantial sums of money. My oldest son turned 21 in March and my ex continues to control this account. Periodically, my ex reimburses himself (writes checks to himself from the account). Please correct me if I am wrong, but I thought any monies deposited into a UTMA account was an irrevocable gift and could not “be returned” to the donor! My ex is using these accounts for his “child support”. I have no say as to how the money is spent. I have to pay 50% of uninsured medical and 50% of extracurricular activities on my pitiful income which is about 1/4 of my ex-husband’s income. He uses the UTMA accounts as well as having a significant income. Is there anything I can do about this? This is the most unfair situation as I sacrificed much so that the money would be available for the children and he gets to pocket it now. This is just wrong and he should not be allowed to do this, but I suppose there is nothing I can do. I have never seen anything like my case. Never. Thanks.