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#1961355 - 09/11/14 07:28 PM Overdraft protection
Tocomply Offline
Platinum Poster
Joined: Nov 2004
Posts: 650
Can you use a UGMA savings account as an account to transfer funds frum to cover an overdraft?

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Deposits and Payments
#1961361 - 09/11/14 07:39 PM Re: Overdraft protection Tocomply
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,393
Galveston, TX
Only if it will benefit the minor.

The answer is basically - absolutely not.
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#1961404 - 09/11/14 08:27 PM Re: Overdraft protection Tocomply
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
You should never treat as "same ownership" accounts that are held individually and those held by the same individual in a fiduciary role.
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