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<p class="MsoNormal"><a name="_MailEndCompose"><span style="font-family:"Times New Roman",serif;color:#1F497D">I haven’t run into that specific issue, but in my experience the custodian can take funds out of the account? I know I took out funds for my niece’s
education and my sister did the same. Maybe if she simply removes some funds without trying to close the account?
<o:p></o:p></span></a></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-family:"Times New Roman",serif;color:#2F5496">Kokie Adams<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:#4472C4"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#2F5496"><img width="205" height="31" id="Picture_x0020_1" src="cid:image002.jpg@01D66B38.CD574EC0" alt="Adams-Logo-Print-300dpi-900wide"></span><span style="font-family:"Times New Roman",serif;color:#2F5496"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:#2F5496"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:#2F5496">7127 - 196th Street S.W.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:#2F5496">Suite 201<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:#2F5496">Lynnwood, WA 98036<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:#2F5496">425.774.0444 (phone)<o:p></o:p></span></p>
<p class="MsoNormal"><a href="mailto:kokie@adamslawgroupnw.com"><span style="font-family:"Times New Roman",serif;color:#0563C1">kokie@adamslawgroupnw.com</span></a><span style="font-family:"Times New Roman",serif;color:#2F5496"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:#2F5496"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><u><span style="color:#C00000">COVID-19 Notice:</span></u></b><span style="color:#C00000"> </span><span style="color:#1F497D"> We continue to work remotely while our office remains closed to the public on the recommendation of health
officials. Meetings are handled primarily by phone and video conference while limited in-person meetings will be available with all parties wearing face masks. Our top priority is the safety of our employees, clients and colleagues. Thank you for your patience
during this difficult time.<o:p></o:p></span></p>
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<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com [mailto:wsbapt-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>Sharon Rutberg<br>
<b>Sent:</b> Wednesday, August 5, 2020 2:48 PM<br>
<b>To:</b> wsbapt@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBAPT] UTMA set up by mistake<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Hello, Listmates –<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Client misunderstood some advice (or got some bad advice) and gifted money into an UTMA account for a teenage family member, naming herself as the custodian. What she really wanted to do was to make the gift via her Will. She is now concerned
that the child will receive the assets outright within only a few years. She would like to take the money back out of the UTMA, but the bank refuses to release the funds to her. Has anyone run across this type of problem? Wondering if there is a solution for
her. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thanks,<o:p></o:p></p>
<p class="MsoNormal">Sharon <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">Sharon C. Rutberg, Attorney at Law</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">Salmon Bay Law Group, PLLC</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">1734 NW Market St.</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">Seattle, WA 98107</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">206-735-3177, ext. 2</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black"><a href="mailto:sharon@salmonbaylaw.com"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif">sharon@salmonbaylaw.com</span></a></span><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">
</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">Website:
<a href="http://www.salmonbaylaw.com/">www.salmonbaylaw.com</a></span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">Washington State Bar #47055<br>
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