Are we allowed to satisfy a levy with a WUTMA account?

State law issue. But the rule of thumb is that the funds don't belong to the custodian, so a levy in the name of the custodian would not reach the funds in the UTMA. It would be unusual at best to see a levy in the name of a minor.

Thank you for the answer. I should have mentioned that the WUTMA beneficiary is no longer a minor, they are in their 20s. Not even sure if they know that they have this account. We have tried to contact the custodian but there has not been activity since 2006 on this one and it just keeps renewing. So the Levy is in the WUTMA beneficiary's name. In my opinion, this makes the WUTMA funds fair game. Sorry for leaving that nugget out. Would you say that I am on the right track with my opinion though?

I'll have to cop out and repeat that it's a state law question. Someone with some background in Badger State law might be able to help.

No problemo. Completely understand. I wouldn't say that is a cop out, maybe a tap out.
Anyone from the great state of WI have any thoughts on the above situation?

I don't see why they would not be, but I might suggest calling the DFI and confirming.

Just a follow up on this one. I did contact the DFI. The opinion that the person gave me was that the beneficiary, though at the age of majority, would have to either receive the funds from the custodian or petition the court to obtain them, the IRS should have to do so. Not sure if I agree with that assessment. What do you all think about that?

Sounds about right. Not sure in WI, but in most jurisdictions, only the custodian has control of the funds. If the custodian does not fulfill their duties, then it would take a court order to the bank to turn the money over to the beneficiary or third party, regardless of the beneficiary's age.

One other question, if there has been no contact with the custodian since 2006 - why has the account not been esceated?

It was a CD that would auto renew. No correspondence was ever returned so we assumed they were getting the renewal information and just chose not to.