I will be facing foreclosure and I have an account for my daughter's college (a Money Market account). If I transfer this money to her name (she is still a minor) with myself as custodian, will it be safe in case the bank wants to take further action for the foreclosure?
If you put the funds in a Uniform Transfers to Minor Account (UTMA), those funds will be owned by the minor, but managed by you. Your bank can help you set up this account.
If creditors believe you did this to shield the funds from any collection action, they may seek a court judgment. Making that switch sooner rather than later will be to your advantage.
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If you put the funds in a 