An employee at the First Midwest Bank in Crystal Lake, Illinois, allowed my minor son to withdrawl apprx. $400 from his UTMA (an account requiring the named parent's signature for withdrawls until age 21). The branch manager apologized.
Our kids are allowed to keep a certain percentage of their paychecks and required by us, his parents, to save the remainder for college expenses.
The accounts are set up that way to keep our sons from making irresponsible financial decisions. He, of course received less of his future paychecks to make up for the withdrawl. He thanked us not too long ago for "MAKING" him save his money.
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