How can I get rightful possession of my college fund?
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How can I get rightful possession of my college fund?
My grandparents gave me an account with college money. Since I received this account my mother has had control over it. She lost 20k then withdrew it (I believe the account was in stocks, but either way she lost 40%). Now that I am in college and of age she believes that she should still have control over my account. I have made several attempts to address the issue. I would like for my father to have control over the account however she feels empowered with control over it and my bills are always late being paid. I do not trust her with my funds. I am not comfortable with her having control.
Asked on September 23, 2011 under Estate Planning, Massachusetts
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
This is, as I am sure you understand a very delicate situation between you and your parents. But if you are of legal age then you can indeed petition the court to allow you access to the money and control over your affairs. The problem here is I am unsure how the funds are held. It is clear that they "bequeathed" you the money from their Will, correct? But was the money transferred to a Trust? Or maybe they placed it in a trust account prior to their death and just referred to it in the Will? In any event Mom was named as trustee and you are going to have to have her removed one way or another. Good luck to you.
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