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I am the adult signer on a minor account (my fiance's daughter). Is their any civil or criminal penalty if I withdraw the money from the account per my fiance's request and against his daughter's desire. The amount in $1400 and we are in the state of Idaho.
State/Country relating to Question: Idaho Already Tried: The school resource officer has indicated that it is theft and I will be charged with such if I do not return the money to her. I have spoken to the bank and they have indicated that I am the adult and she does not have recourse. I am uncertain why the police esp at the school think they have the authority to become involved let alone threaten to bring charges against me.
Want to make sure I understand this. You have authority over the account? Are you a joint account holder? The daughter is a minor? Your fiance is joint account holder? Your fiance is asking you to withdraw the money? And do what with it?
The daughter and I are the only ones on the account. The print-out on the account reads " daughters name Minor on a minor Account
my name Signor on a Minor Account"
I am the only person authorized to withdraw on the account. The daughter is 17 years old. My fiance has asked me to withdraw the money to reimburse me for bills she accrued while living with me for the last 1 1/2 years.
Where did the money come from? How long has it been there?
The money was in the account for approximately a year and it came from her making deposits from her paycheck. The money was to be used to help her get her own place when she moved out but she left abruptly under bad circumstances and left me with destroyed furniture, room a shambles, took things that did not belong to her and outstanding bills she agreed to pay but did not.
OK So now mom wants you to take daughters money to pay mom? Why are you the custodian and not mom?
Dad wants me to take the money and to pay me for his daughter's debt. He asked me to be the custodian on the account because I am "stepmom" and it was easier for me to handle a bank account because of time constraints with his job. Her mother is dead from a methadone overdose and her father and I got her when she was 15 and accustomed to running the streets and lack of parental oversight and control. her father is currently incarcerated because this daughter called the police telling them he was drunk trying to "kill" me. The only factual part was that he was in fact drunk. Her father was on probation from drinking issues in the past and because of his drinking and the continual lies (in order to gain her freedom) he was put back in jail and will be released in May on this probation violation--no charges came from this situation. so I am left paying his, her , and my bills.
Sorry for the delay. Well, you are in a tough spot. A minor is not allowed to own property...that is whey minor accounts must have a custodian...but the term is important. A custodian has a duty to the minor to safeguard the property. Under the Uniform Transform to Minors Act, the minor has a right to the assets. If you use the money for your own gain or for the gain of anyone but the minor, your opening yourself up to possible suit from the minor (when they turn 18). It could also be a criminal act. So I would not recommend you take the childs money to give to the dad. Much better to let the minor turn 18 and take control of the account. Please let me know if you have further questions; if so I will do my best to answer them. If not please hit the accept button, its the only way I get credit for my work. Terms and Conditions: By your continuing in this conversation with me, or by your clicking “Accept”, you are expressly agreeing to all of the following: (1) our communication is for entertainment purposes only; (2) you are not consulting me in my professional capacity as an attorney; (3) you do not seek to establish an attorney-client relationship with me, nor do I with you; (4) you will not rely on anything I say and you will obtain appropriate legal counsel via a traditional office consultation with an attorney licensed to practice in the jurisdiction where your legal issue arises; (5) by communicating with me in this public forum you are irrevocably waiving any right to privacy, confidentiality and attorney-client privilege concerning the matters discussed. You further separately declare that any payment made by you is not consideration for this contract, nor offered for any services rendered by me on your behalf. If you do not agree with these terms and conditions, then you must advise me immediately.
the money is not to be given to her father. It is to reimburse me for her care and her bills. What if I can supply receipts etc then what recourse does she have?
As a minor, she should not be paying rent...that obligation falls to her custodian (father). If you take the money for your own use, she would have a valid suit against you for the money at the time she turns 18. She may also have a criminal complaint, but that would be at the discretion of local law enforcement if they want to prosecute or not.
I never said she was paying for rent. She agreed to pay for her cell phone, monthly bill, transportation to and from work, etc. also, I was just informed by her father that part of the money in the account was from him making deposits but neither person can identify exactly how much s/he deposited because neither of them have deposit receipts. Isnt it her burden of proof to prove how much money is actually from her?
No, actually, once the money is in there, the burden will switch to you if you pull it out. A custodial account is for the benefit of the minor. If the money is in the account, the presumption is that it belongs to the minor
We still have the issue that she has debt that she has incurred and agreed to pay but did not. Since the debt is hers, isnt she responsible to pay those debts and therefore the amount she owes can therefore be withdrawn without recourse?
Your missing the point that a minor can not incur debt. You may be able to take the money without recourse. But if you want the legal possibilities, it is possible that if you take her money she can sue you to recover it on reaching the age of 18.
If the money stays intact can I safely transfer it to a different institution without legal ramifications? I am moving all of my accounts/loans to a different institution.
No worries with this. If its a custody account and you simply change banks that is fine.
what is a custody account?
Custodial account. If you are signatory on a minor's bank account, its a custody account.
It would either be an account with her father's name on it or my account with my name o it. To my knowledge there are no other institutions in my town that allow minor accounts.
I have never seen a bank that did not offer a minor account. I suspect the bank your transferring to will support this request. The money belongs to the minor and if you take it you could be exposed to both criminal and civil liability. In the end you can take the money if you like and you may not suffer any repercussions...or you may. But the choice as well as the ramifications, if any. that follow are yours.
I thank you for your advice and our conversation. Look into US Bank. They as well as other banking institutions that are in my community refused to open a minor account. I plan on transferring the money to her father's account so I am no longer in the middle of this issue. Hopefully, this will put the burden back on her father.
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