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Thomas McJD
Thomas McJD, Attorney
Category: Estate Law
Satisfied Customers: 3170
Experience:  Wills, Trusts, Probate & other Estate Matters
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What factors render a custodian "INELIGIBLE" under the UTMA? What

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What factors render a custodian "INELIGIBLE" under the UTMA?
What fiduciary duty (implied or otherwise) is imputed to a bank upon "knowledge" of 1) a minor attaining age of majority and 2) a minor's show of proof of non-cooperation of the custodian in failure to sign over UTMA accounts and provide accountings?
Submitted: 10 months ago.
Category: Estate Law
Expert:  Infolawyer replied 10 months ago.
are you referring to a financial custodian or an individual?
Expert:  Infolawyer replied 10 months ago.
awaiting your reply.
Customer: replied 10 months ago.
1)What factors render a custodian "INELIGIBLE" under the UTMA?Here I am referring to an individual custodian. Please provide examples and case law.2)What fiduciary duty (implied or otherwise) is imputed to a bank upon "knowledge" of 1) a minor attaining age of majority and 2) a minor's show of proof of non-cooperation of the custodian in failure to sign over UTMA accounts andprovide accountings?Here I am referring to the fiduciary duty of the bank holding the UTMA. Please provide examples and case law.The words in quotations are the actual words used in the UTMA in most states, I need to know all interpretations of those words in context with their placement, as well as examples and case law where the meaning of those words were in question.