AboutAlexander J. Hay Expertise I can answer questions on trusts, wills, and specifically the use of Offshore Trusts and Companies in combination with Domestic entities to help with estate planning, tax minimization and asset protection.
Experience I am a U.S. attorney with offices in the United States and Belize. I have experience helping to protect assets, reduce taxes, and improve investment performance by utilizing global investment techniques.
Education/Credentials Harvard University, A.B. degree; University of Houston Law Center, J.D. Degree; Fulbright Scholar
Question I am the custodian over a cd account for a minor. The account matures on her 18th birthday. Her grandparents need money for her sooner than that. Can I withdraw funds from the account before it matures?
Answer I would advise against it. The funds are not the grandparents, no matter how desperately difficult their situation. Even if the funds came from them. The funds are by right going to the child, and when they become 18, if the funds are not there they have the right to sue YOU, and then you get to pay them.
If you want to give the money to the Grandparents, you should take it out of your pocket and give it to them yourself.
