My husband's ex-wife is custodian of his daughter's UGMA . . . We are the custodial parents 100% of the time and the daughter turned 18 in January. I would like to take the money out of his ex's control, she is threatening to reimburse expenses like auto insurance from it.
My question is: The UGMA was set up 20 years or so ago (transferred from a child that died) and when it was set up the age at which it was released was 18. Around 1995-7 Texas changed from UGMA to UGTA and the age was raised to 21. Is this retroactive to accounts that were set up prior to 1995? (I'm hoping not, I don't want the ex to have access to this money for 3 more years)
I appreciate any help or if you can direct me to somewhere that can answer this - I've looked all over the internet. Thanks!!