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UTMA Accounts
Potential clients have 2 UTMA accounts. One is valued about $160,000 that was established 18 months ago and another is valued at $60,000 established 10 years ago. Both accounts are in name of one debtor as an UTMA account that belongs to debtor's minor child, age 16.
Will trustee go after these 2 accounts as the debtor is a fiduciary to this child based upon the UTMA account or does the account belong to the child and thus not part of debtor's estate?
Thanx in advance.
Lindsey B. Green, Esq.
Gumm & Green, LLP, Attorneys at Law
5743 Corsa Ave., Suite 111
Westlake Village, CA 91362
phone: 818 707 4233
fax: 818 707 4262
e-mail- Lindsey@gummandgreen.com
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