Ex made unauthorized address change to bank account

[The0racle]

What is the name of your state (only U.S. law)? OR

I opened a UTTMA custodial account for my child several years ago. My ex and I were already divorced at the time the account was opened and I am legally the owner. Ex is not a signer on the account; nor is my minor child.

I was recently notified by my bank that a change of address had been requested on my child's account. The new address requested is my ex's address.

I've contacted the bank and they assure me that I am the only one who would be authorized to make this change yet somehow, my ex was able to submit the request without my prior knowledge.

Obviously, my ex and I know each other's SS#'s and DOB, along with knowledge of answers to other security-related questions a bank might ask before granting access to an account. This is the part that concerns me. What else might they attempt to access?

The account was opened when my child received an inheritance (from my side of family). The funds were later moved and invested in a college fund, which is where the funds remain. I've alerted my broker in the event any attempts are made to access the funds.

The bank is investigating to confirm how this occurred but it seems pretty evident what has happened. This was definitely an inappropriate move on my ex's part because they know I would not have approved the address change.

But my question is: Should this be reported if the bank confirms my ex was the one who made the request by intentionally breaking security in order to do so?

 

[davew128]

What is the name of your state (only U.S. law)?I opened a UTTMA custodial account for my child several years ago. My ex and I were already divorced at the time the account was opened and I am legally the owner.

No. You're not. The child is.

 

[The0racle]

Legal Tax Owner

That's not what the bank has told me. It doesn't become the child's until they reach 18 and I have signed off as custodian.

Regardless, the other parent is not the owner or legally authorized to make changes to the account.

The other parent has accessed MY bank records by using my personal information. Should it be reported?

 

[TinkerBelleLuvr]

You will have to PROVE it.

 

[davew128]

That's not what the bank has told me. It doesn't become the child's until they reach 18 and I have signed off as custodian.

You do understand what a custodial account is right? ANY parent who treats an UTMA account as their own has committed a crime.

 

[cosine]

You do understand what a custodial account is right? ANY parent who treats an UTMA account as their own has committed a crime.

What part of single parent do you have trouble understanding? ONE parent opened the account for their child. That is the contractual arrangement with the bank. The bank indicates they would not or will not allow someone other than this ONE parent to make the change. Since the change happened, at APPEARS (investigation results now needed to verify) the other parent presented false identity to acquire the account.

 

[justalayman]

What part of single parent do you have trouble understanding? ONE parent opened the account for their child. That is the contractual arrangement with the bank. The bank indicates they would not or will not allow someone other than this ONE parent to make the change. Since the change happened, at APPEARS (investigation results now needed to verify) the other parent presented false identity to acquire the account.

OP didn't say it was changed. OP said they were notified that a request for a change was filed but was then informed that only the OP could change anything with the UTMA.

I was recently notified by my bank that a change of address had been requested on my child's account.

I've contacted the bank and they assure me that I am the only one who would be authorized to make this change yet somehow, my ex was able to submit the request without my prior knowledge.

since there was only a request to change the address, nothing is going to happen. The change did not take place. If he is half smart, he should be able tom come up with an excuse that would remove any claim of an improper action.

 

[cosine]

OP didn't say it was changed. OP said they were notified that a request for a change was filed but was then informed that only the OP could change anything with the UTMA.

You are right, I jumped the gun on that.

since there was only a request to change the address, nothing is going to happen. The change did not take place. If he is half smart, he should be able tom come up with an excuse that would remove any claim of an improper action.

Why would he need to come up with such an excuse? If the bank stopped the improper action, it seems his interest would be to make sure any future attempts will also fail. If his ex merely stated truthful facts and asked to have the address changed, there's no crime, of course. But I can see how it got him worried as to her motive. And if her motive is not good, she might try again. He can ask the bank to put a change freeze on the account to contact him to verify all changes on the account. If there are future attempts, he might seek a court order prohibiting the ex from making further attempts.

 

[justalayman]

If there was a claim of some attempted action, such as fraud, theft, or conversion. Not saying there would be but such an action could be easily explained to be a mistake if one claims ignorance of how the trust works.

 

[davew128]

What part of single parent do you have trouble understanding? ONE parent opened the account for their child. That is the contractual arrangement with the bank. The bank indicates they would not or will not allow someone other than this ONE parent to make the change. Since the change happened, at APPEARS (investigation results now needed to verify) the other parent presented false identity to acquire the account.

Get back to me when you know what you're talking about.