Legal Question in Wills and Trusts in Georgia

ugma Gift to Minors Act liquidation

In 2001 I was divorced. In 2002 My ex liquidated our childrens gift to minor act funds with a balnace of 50k. He did not put the money in a 529 plan or any other fund for the children. I don't believe he paid taxes on the money he took. He did not use the money for the benefit of the children. The gift to minor act is supposed to be irrovokable. What can I do to recover these funds. Is this against the law?


Asked on 4/26/08, 4:57 am

2 Answers from Attorneys
Charles W. Field Charles W. Field, Attorney at Law

Re: ugma Gift to Minors Act liquidation

It may be illegal, but more importantly to your children, it may be in violation of your divorce decree. Consult with an attorney in or near the county where your divorce was granted.

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Answered on 4/26/08, 5:46 am
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: ugma Gift to Minors Act liquidation

Your waiting six years to deal with this may be a major problem, but you need to see a lawyer immediately.

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Answered on 4/26/08, 8:26 am


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