My ex-husband has been the custodian of our son's education account since it was set up. He has taken about half of the money out to pay bills that are not in my son's name. Is this legal? Does he have to pay taxes on this money? How can I get an accounting of the withdrawals?
If the account was established under a state's Uniform Transfers to Minors Act or as a tax-advantaged education account, when the funds are used for the custodian's own obligations, there can be legal and/or tax consequences. Because those consequences can vary widely based on the type of account involved, make a visit your county's legal aid offices to see if you can get some answers there.
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If the account was established under a state's 