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What else can I help you with?
Can you spend minor daughter's inheritance in NY?
Absolutely not. The minor's inheritance should be placed in an interest bearing savings account in trust for the child.
Can creditor garnish bank account with minor as beneficiary?
Yes. They cannot garnish the minor's account, however.
What is a Jackie Coogan Bank Account?
What is a Coogan Account? A "Coogan Trust Account" is a blocked trust account that is established at a qualified financial institution in California that is insured at all times by either the FDIC, SIPC or NCUSIF. Under California law, whenever a minor renders artistic services, employers are required to deposit 15% of gross earnings directly into the minor's "Coogan (blocked trust) Account". The monies placed in trust cannot be touched by anyone until the minor turns 18 or becomes legally emancipated. Parents or Legal Guardians are required to establish a "Coogan Trust Account" within seven business days after a minor's employment contract is signed, and to provide the minor's employer with a copy of a trustee's statement (evidencing proof of the account) within ten (10) business days after the start of employment.
Can a check be deposited into a minor account?
If the minor is going to do it alone - Then No. If the minor is taking an adult guardian with whom they have a joint account - Then Yes. Banks do not let minors transact alone and by themselves with them because of their age
What is a custodial account?
A custodial account is an account set up by an adult to benefit a minor.
Can a minor's bank acct be garnished?
No, a minors bank account can not be garnished, if they are the only person on the account. If this is a joint account and the non-minor is subject to a judgment then it can be levied or garnished.
How are independent candidate placed on the general ballot in an election?
minor parties are placed on ballot by petition
How are independent candidates placed on the general ballot an election?
minor parties are placed on ballot by petition
How to apply bank for transfer minor account to major account?
tell me a application for major account
Can a minor own stock?
A trust for a minor can own stock, but a minor cannot. Someone can own an account or stock in trust for the minor.
How do you operate minor's account?
To operate a minor's account, a parent or legal guardian typically needs to open the account on behalf of the minor, as they cannot do so independently. The adult will manage the account, including deposits, withdrawals, and financial decisions, while the minor can learn about saving and budgeting. Many financial institutions offer specific accounts for minors that may have lower fees and educational resources. Once the minor reaches the age of majority, they can take over full control of the account.
Who cannot open a current account?
A minor
