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My Ex-Wife liquidated our Son's Prepaid College fund in the

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amount of $9,000.00 and used...
My Ex-Wife liquidated our Son's Prepaid College fund in the amount of $9,000.00 and used the moneys to pay on her Credit Card Dept... We had paid for the pre-paid College Fund since he was born in 1995... We were divorced in 2013... Isn't that considered part of the "Marital Assets" since Son has chosen not to continue his College Education, and aren't I entitled to 50% of that $ since the $ has been used for other than what it was intended to be used for?
Submitted: 1 year ago.Category: Legal
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Answered in 3 minutes by:
8/13/2016
Lawyer: Barrister, Attorney replied 1 year ago
Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 39,576
Experience: 17 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

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Were those funds put into an account in son's name with you both as custodians or was this just an account that you both set up that was intended to help son pay for college later on?

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thanks

Barrister

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Customer reply replied 1 year ago
I replied by text message but I will reply again... This is a Florida Pre-Paid College Fund that we as a couple have been paying on since my Son was Born In 1995...We were Divorced in 2013 with the intention the our Son was going to continue on with his College Education... He has since decided that he does not want to go to College so his mother, my x has liquidated his Pre-Paid College Fund and used the $ to pay an her Credit Card Dept...Is That Legal? Aren't I entitled to 50% of that $...
Lawyer: Barrister, Attorney replied 1 year ago

Ok, then if this wasn't specifically gifted to son by both of you, then it would be considered a marital asset and ex would have no legal right to cash it out and use the entire proceeds of the fund for herself. Your recourse here would be to file a small claims court suit against her for breach of contract for half the money because presumably the agreement was that the money was for son's education, and if not, then it would go back to both of you.

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thanks

Barrister

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Customer reply replied 1 year ago
Thank you for acknowledging what I had already assumed
Lawyer: Barrister, Attorney replied 1 year ago

You are very welcome. Glad to help any time. And depending on what state you are in, this might be under the limit for small claims court for a breach of contract action so you wouldn't need an attorney to represent you..

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thanks

Barrister

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Ask Barrister Your Own Question
Barrister
Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 39,576
39,576 Satisfied Customers
Experience: 17 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs

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