answersLogoWhite

0


Best Answer

18 is the age of majority in the state of Michigan for Custodial accounts. In order to receive the funds the minor & the custodian must submit a form to the company where the funds are held.

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: When can a minor claim a custodial account in Michigan?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

When can a minor claim their custodial account in Virginia?

Age 18


What is a custodial account?

A custodial account is an account set up by an adult to benefit a minor.


How can a minor trade stocks?

Through a custodial account. An adult can setup a account and add you as a custodial. The custodial makes the trades through your accounts, but the money remains separate from both accounts.


At what age can a minor child in Michigan choose custodial parent when joint physical custody has already been established?

see links below


Can a home be quit claim deeded to a minor in the state of Michigan?

No. The home could be quit claimed to a trust for the benefit of the minor, but a minor cannot own property.


Can minor operate trading account?

You must be 18 to establish a trading account. If you are under 18 you can have an account assigned to your social security number but it must be a custodial account and a custodian will control the account until you are 18 years of age.


Do you have to have consent from both parents to house a minor?

Yes. if the custodial parent can not take care of the minor the non-custodial have first dibs.


At what age can a minor decide not to see a non custodial parent?

An minor can't decide to not see a non-custodial parent -- if there's a court order, it will continue until the minor is of age, 18.


How would a non-custodial parent of a minor child in the state of Michigan sign off rights to their child?

You would have to call the court house for legal papers on terminating parental rights.


Can a non-custodial parent make a minor a facebook page and not give the custodial parent the info?

Yes.


What is the difference between opening a trust account for a minor and a custodial account?

A tust is a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary. A trust can be setup for a trustee of any age, and that age can be specified by the trustor. A custodial account is managed by an adult for a client who is considered a minor age 18-21 years old. Once the client reaches the legal age of their state of residence the account is taken over by the named account holder.


Can a 16-year old get in trouble if she was to run away from Indiana to Michigan to live with the parent who doesn't have custody of them?

Yes. And the parent will also be charged with kidnapping if not sending the minor right back to the custodial parent.