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CD Renewed for Minor no Longer a Minor: What Now?

My daughter's friend is twenty. He was given a CD as a gift when he was still a minor. His dad is on it with him. When the CD was renewed, it was renewed with him as a minor even though he might not have been at the time. The CD comes due 8/25. Does he still require his dad's signature on this? There are some family issues that are occuring where it was stated that the family may try to block him from getting his money. Can they do this, and if so what can be done about it?


Your daughter's friend should contact the bank holding the account and pose his questions there. It will know exactly how the account ownership is set up and whether his father will have to sign. Without that information, not much more than hope that everything works out as it should can be offered here.

Published on BankingQuestions.com 7/14/10