Custodial Bank Account for Minor Children
Posted: Tue Jun 20, 2017 5:00 pm
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Technically, it is not property of the estate. However, the better practice is to schedule it and assert that it is not property of the estate, but is listed in an abundance of caution. Be prepared for an inquiry from the Trustee, and be prepared to explain the source of the funds and how long they have been in the custodial account. Given the significant amount of money at issue, if PC doesnt have the right back up documentation, Trustee will file an adversarial proceeding for turnover
Thomas J. Tedesco, Esq.
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