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BankersOnline.com Forums State-Specific Compliance Issues Massachusetts UTMA closeout, minor is over 21
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#1659156 - 02/01/12 05:28 PM UTMA closeout, minor is over 21
hcja1994 Offline
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Joined: Feb 2012
Posts: 7
Is there a way to close a UTMA account when the minor is of age when the custodian cannot be contacted by the bank?

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#1659171 - 02/01/12 05:51 PM Re: UTMA closeout, minor is over 21 hcja1994
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 84,334
Galveston, TX
No, the now adult, will have to go to court to get a new custodian appointed or obtain an order for the current custodian to turn over the funds.
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