ex mother inlaw emptied daughters bank account

lesleywilliams1970

years ago when my daughter was young my ex husbands mother opened an account for my daughter to which my ex mother in law and other family members have paid monies into... my daughter is now 20 and a year off being able to access the account and her father has told her that her grandmother has emptied the account and spent the money is there anything my daughter is able to do

seven-day-weekend

Whose name was on the account?

74jax

Before your daughter was 18 was the account held in trust? What happened when she turned 18?

gunsandbanjos

You might be better posting this on the bank accounts board. There are quite a few people who work for banks there. Not sure if they venture onto this board much!

vegasvisitor

I agree with others, more information would be needed.

Whose name was on the account, and why held until certain age.

That said, would the others who contributed confront her about taking their money?

lesleywilliams1970

the account was in her name but her grandmothers name was also on it according to her father but any correspondence was to my daughter

meritaten

the way I understood it when opening an account for my MIL for my kids - she could pay in and take out as she wanted until the children were 21. It sounds like a very similar account. and yes, she would be entitled to 'empty' the account if she so wished. but, you really need to read the T&Cs of that account.

Spendless

Both my kids have bank accounts opened by us. When they were opened one of our names had to be on the account too as trustee. I think this was due to their ages when the accounts were opened. When a letter comes through the post it says something like to Mrs Spendless trustee of Miss Spendless, or maybe to Miss Spendless c/o trustee Mrs Spendless. In the absence of a relevant envelope I can't accurately say. Until the children get to a certain age, they cannot withdraw the money without one of us signing, but it also means I can take out the money at any time and spend it on anything I choose.