However, if the custodian withdrew the money, then you will have inform the custodian that you want the funds.
The custodian agreement DOES NOT state that the custodian need to have retained the funds, the agreement states that they must retain them for you and/or your benefit but could use the money for your benefit during the course of their custodianship
Easiest way is to get the custodian to release the money to you and close the trust account. Then you can deposit the money into your account or open one up.
Found out today I have a custodial account worth 2,000 dollars.
Im 22 years old and according to my state laws " The Custodian must unconditionally release the property to the child at age 21"
Can I simply go down to the bank tomorrow and withdrawal the money and get $2000 cash? Or do I have to bring my parent (custodian) to sign the account over to me?
