My daughter was bit by a dog and we recieved a settlement when she was 7. It went through probate court and has been in a CD with both my name and her name on it. She will be turning 18 very soon and is not responsible at all. She has chose to move out and she parties all the time. She quit her job and I am afraid if she gets any of that money it will go to drugs. Am I able to withdraw the money on her 18th birthday and deposit it under her grandmothers name so she can't access it herself? I would like to moniter her spending. She has also told me that she will give me some of the money as a thank you in the past before she got out of control. Am I allowed to withdraw any of it for my own use once she is 18? Please help.....if she gets a hold of that money it will be gone in a matter of two months.
1 Answer from Attorneys
I do not believe you can use the money for yourself nor do I believe you can put the money in her grandmother's name unless she is agreeable.