Thanks, can you suggest the type of attorney I might find to do this for her? During mediation, my soon to be ex said he wanted to maintain control of the UTMA and change it to his name so that he would have final approval regarding college or any other expenditures. I did not think he could do this, thank goodness or I do not think I would have signed on to it even sixteen years ago as I had. When I asked the question however, the two attorneys present (one of which was mine that is being paid too much an hour to represent me in a divorce) kept repeating, "I don't know, I did not think it could be changed, that is why my kids did not have one". I told them that I had looked up the regulations relating to this and that it was supposed to be an irrevocable gift and the custodian was just that until the minor reached the age of majority when it would automatically go to the minor. They said they did not know and for me to call the institution that held the account. I did that and was told that it could be done logistically, but that it was not legal and I had recourse. Once I told them this, they said not to make an issue of it then and to just let the custodian keep control and if he changed the name to his, my attorney would take him to court...the other attorney added that he could probably spend it too and then we would have to take him to court to get the money back. I am thinking I also need to find a new attorney :). Thanks again. I appreciate your direction in this matter.
