Wife was not entitled to funds in college savings account she established with husband for their son, pursuant to parties’ stipulation of settlement in matrimonial action, providing that all joint bank accounts had been split and that the party named as the account holder was entitled to keep the funds, although she was technically owner of the funds, where the reason for the account’s existence was not to personally benefit either of the parties, but to fund their son’s college education.
Laura Morgan is a Family Law Consultant. Laura is available for consultation, brief writing and research on family law issues throughout the country. She can be reached through her website. www.famlawconsult.com