My sister passed away, and her coworkers gave $2500 to her mother-in-law to place in a custodial account for my neice. She turned eighteen, and asked her grandmother if she could withdraw the money. Grandma replied that she needed to use it and no money was left. What recourse does my niece have?
Any recourse depends on how far she wants to take the problem. Your niece can take legal action against her grandmother to recover the funds, but may find that the cost of the legal case and the damage it would do to whatever family ties the women have, just isn't worth it. She should talk to a legal advisor.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
Any recourse depends on how far she wants to take the problem. Your niece can take legal action against her grandmother to recover the funds, but may find that the cost of the legal case and the damage it would do to whatever family ties the women have, just isn't worth it. She should talk to a legal advisor.
