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I am 24 years old and can't seem to be able to take money out of my uttma account unless my mom is present, how can i change that?
Junius, Staten island, ny
November 6, 2017 02:34:28 PM
In reply to Junius, Staten island, ny
Hi Junius! Great question.
We'd be happy to explain and clarify!
If you are listed as the minor on an UTTMA account, you would not have access to the account. Even once you've reached the age of 18 and are no longer considered a minor, it does not change the titling of the account. As long as the account is set as an UTTMA account, only the Custodian can access the funds.
If your mom is the Custodian, she may visit us at any local TD Bank Store to withdraw the funds and close the account. She could then make the decision to provide you with that money which you could take as cash or deposit into a new account with us. To find a TD Bank Store near you and your mom, please click here: https://go.td.com/1nq31dc.
We hope this helps, Junius. If you have any additional questions, please don't hesitate to reach out to us here or give us a call 24/7 at 888-751-9000.
We hope you're having a great day, Junius!
Candice A, Mount Laurel
November 6, 2017 02:35:03 PM