Legal Question in Banking Law in Michigan
When an adult is opening a savings acount for a minor child (2 years old) and has prior debts, Can the the funds in the savings account be taken to pay off debt that the adult owes?
Asked on 7/22/10, 2:12 pm
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
No. The minor's funds cannot be utilized for any other purposes except for his welfare.
Answered on 7/25/10, 6:18 pm
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