When my father was in his 20s, he had a bro that died in a farm accident. My grandparents had saved college money for their son that died. My grandparents put the money into an CD which was to be given to my dad's son (me) when I turned 18. I turned 18 on sep 10th when my mom told me about this CD and after i went to my dad's house (their divorced) he confirmed they had left me money. My mom gave me a statment from the year 2000 that said ther was $2890 in the account with an interest rate of 5.299% which adds up to around $3700. The problem is my dad transfered the CD into his bank account 3 days before I turned 18. I asked my dad about the money and he said there was only $2200 and he transfered $2200 into his bank account and he didnt know where my mother got the bank statement. My dad then yelled at me for talking to my mom about the money saying it was between grandma, him, and me. I logged onto his bank account and there was only 1 deposit for $3700. What should I do???
2006-09-16 16:09:22 · 8 answers · asked by Bob W 2 in Family & Relationships ➔ Family
If your grandparents put the CD in your name. the minor (under either the Uniform Gift to Minors Act or Uniform Transfer to Minors Act) then your father stole the money. You can ask for it back and if he won't give it to you, sue him. The UGMA and UTMA are irrevocable gifts, and to take the money is illegal. You could also call the police and report a theft. The financial records would get subpoened and show exactly what happened. Good luck!
2006-09-16 16:18:17 · answer #1 · answered by shrinkydinkheart 4 · 0⤊ 0⤋
Let it go its not that much money. Don't say a word about it, go on with your life, go to school, live a good life. And never trust your father with a dime. Get a pell grant and a student loan you will make it. Someday even if he does not admit it to you or anyone your dad will regret his actions. Or what loose your old man forever and have hate between you for $3700. Over your lifetime more has been spent on you and you will make so much more than that.
2006-09-16 16:20:06 · answer #2 · answered by lona b 3 · 0⤊ 0⤋
Maybe, perhaps you should talk to your grandma and grandpa, and get their help.
At the present you only have what your mom told you about the money. Do you have any documentation, papers, will, or anything to prove that you should be getting the money? You should get a print out of the bank statement showing the money was transferred.
2006-09-16 16:16:53 · answer #3 · answered by rb_cubed 6 · 0⤊ 0⤋
If this was just a verbal agreement between your grandparents and dad, I'm afraid you're out of luck. Taking your dad to court is an option, but it may cost you much more than just lawyer fees. You could take the high road on this and just know that you'd never "cheat" your own children this way.
2006-09-16 16:24:40 · answer #4 · answered by rebecca r 4 · 0⤊ 0⤋
If my father tried to rip me off I would plot revenge. Don't let on that you are upset. Get the $2200 and act like you are content with it. When he least expects it, stab him in the back, and don't let him know it was you. I'm sorry to say you are swimming with sharks, and cunning will be your greatest weapon.
2006-09-16 16:16:45 · answer #5 · answered by martin h 6 · 0⤊ 0⤋
Take him to Small Claims Court. Bring your mother as a witness and any paper work that you have. If you present your evidence and prove your case, you will win. Don't let him cheat you.
2006-09-16 16:13:57 · answer #6 · answered by notyou311 7 · 0⤊ 0⤋
That might be the interest now, but it may have depreciated since then? I don't know.
2006-09-16 16:14:45 · answer #7 · answered by pixiechick 3 · 0⤊ 0⤋
stealing is stealing... it does not matter who is doing it... tell your father what he did was wrong and that you want your money...
2006-09-16 16:13:58 · answer #8 · answered by weldersteve29 2 · 0⤊ 0⤋