I recently went through a divorce that has the Illinois Uniform Transfer to Minors Act stated in regards to our two children's savings account. My ex-husband just recently closed the existing savings accounts without my knowledge and opened up a new savings account with just his name on it. Therefore, I do not have any rights to my children's accounts. According to his lawyer, this is not in contempt of the divorce decree. The bank states that only one parent by law may be a custodian according to this act.
Is this correct? I don't feel in a divorce judgement where there was joint custody established that only one parent have control/access to the children's savings account.
Thanks for your time and patience. Any help in understanding this issue would be greatly appreciated.
Yes, he has done it before. Besides, I don't believe that only one parent in a joint custody situation should have complete control over a minor's bank account.
I have the same issue - but I guess you have to weigh the amounts - if it is over a few thousand or money that is critical, then you can go back to court. If you are the custodial parent, then he really didn't have the right to do it, but you will spend thousands of $$$ and still won't get it back.
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