am i legally entitled to money.given to me.when.i was 13
Asked on Feb 03rd, 2013 on Family Law - New Jersey
More details to this question:
I was given a few thousand dollars at my bar.mitzvah and i was 13 then. My dad took.the money and invested it and said he would take care.of it until.i was older. Im 25 now and i want the money but he refuses to give it to me
It depends on how your father held the account. If the money was held ina formal trust, then you have to look at the terms of the trust. If however, he just took the money from you, invested the money in an account without your name on it, but supposedly doing it for you, then you might have difficulty proving the money was yours. There is a law - Uniform Gifts to Minors Act, UGMA that governs how accounts can be held for minors. If your dad deposited the funds in your name when you were 13 you are now entitled to that money. But if he did not, I don't think you will ever be able to get paid.
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