Im almost 21 when i turn 21 will the account become mine or will she still be able to withdrawl and deposit money
2006-08-30 16:41:37 · 19 answers · asked by sillygoose1216 1 in Business & Finance ➔ Personal Finance
Unless there is some legal attachment to the account, Such as a trust or something of that nature, you have access to your account the moment you turn 18. In the USA that is. I'm not sure about other countries. If you have complete access to the account and your mom is not going to take her name off of the account, withdraw the money and put it into a new account with just your name on it. If you are dependant on your mom for your survival, you had better rethink that and wait till you are moved out and on your own.
If you have a mental problem and have been declared incompetent to handle your affairs, you will be unable to get mom out of the picture.
My question for you is why is mom on the account now and why are you worried about her being on it?
2006-08-30 16:57:21 · answer #1 · answered by john d 3 · 0⤊ 0⤋
My best recommendation is to withdraw all but the minimum required amount in the account and open a new account in your name only.
You might discuss this with the bank manager; it may be something so simple as having her sign a waiver to the account. However, if you think that she's unlikely to do that, then the above choice is probably the only one you'll have open to you. You are after all an adult and should no longer require a co-signer on your account.
2006-08-30 16:48:50 · answer #2 · answered by Brutally Honest 7 · 0⤊ 0⤋
when you're 19 it really is time to have an account on your call in ordinary words. A joint account is purely that, joint. both activities on the account are entitled to withdraw the money at any time for any reason. even with the undeniable fact that, you said that mom says "she denies taking the money". If this is a truth, no criminal professional will be mandatory. All you and your mom would favor to do is fill out affidavits with the monetary employer and report a police record for robbery out of your account and your will receive you money back after a short analyze through the monetary employer. yet is your suspicions are most suitable and mom did in truth take the money, you could attempt to take her to small claims courtroom. the cost of a criminal professional will be more effective than the thousand mom owes you. yet per chance of mission to take action, may scare some compensation out of her. i wish... i'm so sorry you had to study what your mom is like even as it includes money the not ordinary way. I choose you in ordinary words good issues.
2016-12-06 00:40:13 · answer #3 · answered by ? 3 · 0⤊ 0⤋
You both control the account now. If you want to get full control, withdrawl all the money and put it in an account under your own name.
But hey, your mom's not after your chickenfeed balance. Just tell her you're beyond the parental oversight thing and want to strike out on your own. She'll support it.
2006-08-30 16:46:54 · answer #4 · answered by Tekguy 3 · 0⤊ 0⤋
I would think you should just open up your own bank account since you are over the age of 18. It seems like privacy is the answer.
2006-08-30 17:03:40 · answer #5 · answered by InSight 2 · 0⤊ 0⤋
The account can be yours at 18 unless it is a special type of account. If she is joint on the account, she has just as many rights to it as you do regardless of who put in the money.
If it is a checking account chances are you will need her to sign off. If it is a savings account you can probably just have her removed.
2006-08-30 16:46:03 · answer #6 · answered by kay S 4 · 0⤊ 0⤋
Start a new account and transfer all the money into that account. She can;t touch an account with your name only.
2006-08-30 16:44:24 · answer #7 · answered by Legandivori 7 · 0⤊ 0⤋
You need to call the bank and find out how the account is set up.
2006-08-30 16:44:22 · answer #8 · answered by Diane D 5 · 0⤊ 0⤋
you have to have her consent to have her removed. as long as she signed to be on the account, she has to sign to get off... doesn't matter if your like 60 or whatever. so if it worries you that much go open your own account without telling her and just stop putting you money into the one you have with your mom...it will close itself if it's inactive for like 6 months. i see this a lot where i work with people who leave their spouses but they can still spend all their money cuz they can't just remove them whenever they want.
2006-08-30 17:04:14 · answer #9 · answered by CA 2 · 0⤊ 0⤋
She can still use your account as long as her name is on it. If she won't withdraw her name take the money out and open a new account.
2006-08-30 16:47:35 · answer #10 · answered by DaLady 5 · 0⤊ 0⤋