Any lawyers in the house?

[eflat]

So yeah. I have a Scholarshare Education CUSTODIAL (do not confuse this with the other type of account where you are a beneficiary that is totally different) trust fund that legally became mine to manage when I turned 21.

Well I am almost 22 and the owners refuse to sign the paperwork to have it transfered to me. Are there any lawyers are law school students that could help me out and save me from having to pay a lawyer $5,000 over an account that is only worth $10,000. I would really really appreciate it

 

[DevilsAdvocate]

Sounds like a breach of fiduciary duty claim against the trustee.

 

[HappyPuppy]

What reason do they give for not signing the paperwork?

 

[DevilsAdvocate]

Originally posted by: CitizenDoug
So yeah. I have a Scholarshare Education CUSTODIAL (do not confuse this with the other type of account where you are a beneficiary that is totally different) trust fund that legally became mine to manage when I turned 21.

Well I am almost 22 and the owners refuse to sign the paperwork to have it transfered to me. Are there any lawyers are law school students that could help me out and save me from having to pay a lawyer $5,000 over an account that is only worth $10,000. I would really really appreciate it

What is your "ownership" interest in the trust?

 

[PingSpike]

Hit them in the face with a hammer until they either sign it or die. They usually only get one or two chances if you have a good swing.

 

[NogginBoink]

You could probably sue without the assistance of a lawyer. Finding the court that has jurisdiction would be the hard part.

Are you still in school? Your school may have a student assistance office that provides leagal assistance.

 

[ajpa123]

After the issue was settled, i would use some of the 10,000 to make their live a total fvcking living hell. But that comes later, i hope u settle things cheaply and easily!

 

[TitanDiddly]

Originally posted by: HappyPuppy
What reason do they give for not signing the paperwork?

 

[kranky]

What did you say to the custodian and what did the custodian say to you?

 

[dquan97]

Originally posted by: kranky
What did you say to the custodian and what did the custodian say to you?

 

[DevilsAdvocate]

Originally posted by: NogginBoink
You could probably sue without the assistance of a lawyer. Finding the court that has jurisdiction would be the hard part.

Are you still in school? Your school may have a student assistance office that provides leagal assistance.

You can also remove your own tonsils with a coat hanger and a cigarette lighter.

You would not want to do that either.

 

[Taggart]

'Luca Brasi held a gun to his head, and my father assured the bandleader, that either his signiture or his brains would be on the contract.'

 

[dirtboy]

Tell them that if they don't comply that you are going to file a written complaint with their Broker/Dealer and the SEC (Securities Exchange Commission).

And to soothe our curiosity, what is the reason(s) they are telling you for not releasing the money?

 

[acemcmac]

Originally posted by: dirtboy
what is the reason(s) they are telling you for not releasing the money?

 

[eflat]

Originally posted by: acemcmac

Originally posted by: dirtboy
what is the reason(s) they are telling you for not releasing the money?

Well I tried to answer your questions but I had censored words in my text. I guess you guys will never know. Because no friggin way am I going to retype that nice long thought out response after this pos forum censor erased it all. :|

 

[eflat]

Originally posted by: CitizenDoug

Originally posted by: acemcmac

Originally posted by: dirtboy
what is the reason(s) they are telling you for not releasing the money?

Well I tried to answer your questions but I had censored words in my text. I guess you guys will never know. Because no friggin way am I going to retype that nice long thought out response after this pos forum censor erased it all. :|

But basically my father and I don't get along we are both very stubborn he likes to maintain control over my life and him havinv control over this money is one of the ways he can do that because he can force me to study what he wants me to study in school and if I don't he says "fine I won't give let you have any of your college savings money go live on your own"

So I want to study what I want to regardless of what he thinks so if I own the account I will be able to withdraw money myself to pay my own tuition.

 

[apac]

Originally posted by: CitizenDoug

Originally posted by: CitizenDoug

Originally posted by: acemcmac

Originally posted by: dirtboy
what is the reason(s) they are telling you for not releasing the money?

Well I tried to answer your questions but I had censored words in my text. I guess you guys will never know. Because no friggin way am I going to retype that nice long thought out response after this pos forum censor erased it all. :|

But basically my father and I don't get along we are both very stubborn he likes to maintain control over my life and him havinv control over this money is one of the ways he can do that because he can force me to study what he wants me to study in school and if I don't he says "fine I won't give let you have any of your college savings money go live on your own"

So I want to study what I want to regardless of what he thinks so if I own the account I will be able to withdraw money myself to pay my own tuition.

Then go live on your own. Go take some college loans, go to school, and let him eat his words. By the sound of it you're still living under his roof.

 

[bsobel]

Originally posted by: CitizenDoug
So yeah. I have a Scholarshare Education CUSTODIAL (do not confuse this with the other type of account where you are a beneficiary that is totally different) trust fund that legally became mine to manage when I turned 21.

Well I am almost 22 and the owners refuse to sign the paperwork to have it transfered to me. Are there any lawyers are law school students that could help me out and save me from having to pay a lawyer $5,000 over an account that is only worth $10,000. I would really really appreciate it

I'm guessing you want the cash and aren't using it for school. Your folks are pissed and trying to hold it ransom? Anyway, looks like your in CA, so I assume this is a custodial account on CUTMA. Based on my reading of the program two things are possible:

a) This is not a custodial account, the people who set the account up are the actual owners and are perfectly within their rights.

b) This is a custodial account. If so, the people who setup the account agreed "I understand that I am REQUIRED to notify the Program Manager when the Beneficiary has reached the age of majority or is otherwise legally authorized to assume ownership of the account"

So, possibly stupid question, have you contacted Scholarshare to see what they recommend? Looks like the contract requires arbitration, and you may have to go that route since they are technically in violation of their contract with Scholarshare.

On the plus side, should be open and shut, even if they had a CUTMA 302.5 extension, that would have expired at your 21st birthday.

Good luck,
Bill