Crazy mom keeping girlfriend's college fund money away from her...?

Question

First, I need to say that my girlfriend's mom is literally insane, this isn't a teen angst, "my parents are lame" sort of thing, this is honestly insane.

My girlfriend's grandfather opened up two accounts when she was born, one has about $90,000, the other has about $40,000. My girlfriend just turned 18 and is seeking to gain control over these accounts because her mom is likely going to use the money for something other than what it was originally intended for, based on her past actions.

I'm wondering if anyone has any resources as to how to go about a) getting information about the accounts and b) taking control of the accounts. She has called them, but they are hesitant to deal with her since some accounts don't go fully into control of the recipient until the age of 21, also they claim to not have any record of her social security number, will it somehow be masked since she doesn't have full control yet? Her grandfather will be no help.

Any information will help.

Thanks

Answer 1

Did he put a clause in it saying it was intended for college?  Is so, then she should be in control of it if she is attending college.  Is there anyone else in the family who may be able to go to the bank with her and verify this information?  Does her mother have her name on any of the accounts, and if so, is she in charge of distributing it?  I also had a fund put up for me by my great grandmother for college.  However, my grandparents had control of it until I turned 18.  When I turned 18, we went to the bank and transferred all the funds into a bank account in my name.  I would tell her to go to the bank personally if possible and tell them her situation so she can learn everything she can about the accounts.  If they won't let her, then that means she has no control, period, and probably can't do anything about it.  If her grandfather intended them for her, she needs proof of some sort.  I really wish I could help you more.

Answer 2

Matt,

If the grandfather's intent was for the money to be used for college and/or for her to receive it  at age 21, and if the grandfather will be of no help, then your girlfriend can't get the money.

I strongly recommend your girlfriend speak with an attorney who can ensure the money isn't used by her mother. Attorneys deal with this all the time.

"Ranger"

Answer 3

Wait until she is 21. Most adults try to be mature about the money situation. If her mom is really trying to control her finances it may be best to find a lawyer who is cheap. Don't get one that wants 30% of the money.

Answer 4

If she has control over the account and she knows the bank she can go there and talk to someone about it. If she doesn't have control of the account until she's 21 then the bank wont talk to her. If she deosn' have control and she knows she has an account the account will more than likely be in her mothers name under her mothers social security number. She can talk to the bank and ask the bank what she should do.

Answer 5

It depends on how the accounts are set up.  Your friend may have absolutely no legal right to the money.  Impossible to say from your info.