Why did my dad spend my college fund? ?
When I was little, my dad had a bank account with his name and mine because I was under 18. Way under. Now that i'm 19, I find out the money or account isnt there anymore. Why would someone do this? I dont live with him, and he was excused from paying child support long ago. Are there benefits to having a child's name in a bank account? Eh, i'm so heartbroken. My mom says i'll get grants and stuff, so i'm good.
More Questions From This User See All
Answers & Comments
Verified answer
If the account was an UGMA or UTMA account and he was merely the custodian, you can ask him to submit a financial accounting of the account. Technically the money would have been yours and as a minor you couldn't exactly gift it back.
If the account was a joint account and he put all the money in, he had every right to take the money back out.
he needed the cash for something. he probably intended for you to have it but over time he needed for his own person reasons.
some grants may be available. community college is good idea for first 2 years.
Your parents likely had to close it and use the money due to the economy.
maybe beacause hes an idiot no one should spend there child"s college fund