AboutJim Meadows Expertise I can respond to most questions concerning consumer and business relationships with US financial institutions. My expertise touches on deposit and loan issues and particularly on strategies to navigate through bank policies personell and practices. I have a degree in Economics, attended law school, Graduate Shool of Banking, and Commercial Lending and Compliance Schools.
Experience I have twenty years experience as a bank CEO. Most of those years were spent operating a bank focused primarly on serving consumer/retail needs. I helped pioneer deposit and loan products for low/moderate income individuals. I currently serve on multiple bank boards and am Chairman of a Commercial Bank in Atlanta.
Question I am about to enter bankuptcy and I am the custodian on me childrens savings account.They are the beneficiary.Will they lose their life savings {which is about 1500 each}
They are 16 and 17 Thanks
Answer Brad. I don't think so. The ownership of the funds are your children's and should not be a part of the bankrupt estate. Check with your attorney to verify. Also determine the "age of majority" in your state. If 18, then the funds would be turned over to your children at that age. Jim
