Posted By: Diana Timberlake
INUTMA - Releasing funds to minor - 08/22/17 07:30 PM
Under the Indiana Uniform Transfers to Minors Act it states that the custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of (1) the minor reaching 21 years of age; or (2) the minor's death.
If the custodian fails to transfer the funds to the minor after the minor turns age 21, can the minor come in and withdraw the funds without the custodians consent.
We have a controversy that I need help resolving.
If the custodian fails to transfer the funds to the minor after the minor turns age 21, can the minor come in and withdraw the funds without the custodians consent.
We have a controversy that I need help resolving.