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Re: UGMA - minor/adult refuses to accept
Posted by: jainen, July 27, 2013 11:45PM
>>'ve made a commitment that must be fulfilled.<<

Sounds to me like you have fulfilled your commitment. If the account owner refuses to do anything, what is that to you? You yourself believe he has a very compelling reason. In any case it is an entirely valid and legal and appropriate option for him.

That is his own choice. Your choice is to remain as custodian or resign. If you stay on, you should probably ask a court to determine ownership. Eventually unclaimed money must escheat to the state.

Re: UGMA - minor/adult refuses to accept
Posted by: Yellowstone, July 29, 2013 10:08PM
I thank all of you for your insight and continued interest in helping to resolve this matter.
FYI - I have finally made contact and the GChild is willing to accept.

Through the knowledge you've shared, however, there maybe some (lots!) of complications involved. Especially, the comment about student loans . . .

RE: My delay to all of you.

Had to go buy another PC. In the process now of downloading all the relevant s/w.

Regards

Re: UGMA - minor/adult refuses to accept
Posted by: Yellowstone, July 30, 2013 02:28PM
Several very enlightening posts . . .

Reading through TX 141.021 was well worthwhile - Thanks!

Re: UGMA - minor/adult refuses to accept
Posted by: DeeDee, July 30, 2013 10:16PM
Hopefully Gchild is suitably grateful for your generosity.

Re: UGMA - minor/adult refuses to accept
Posted by: Yellowstone, July 30, 2013 11:04PM
Initially the gift will be a surprise - what they do next ought to befuddle them.

If this GC had not been so evasive - I might stick around long enough to assist. But not likely . . .



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