A court order is needed to block a bank account. A blocked account is usually created to protect a money judgment awarded to minors and adults who have been appointed a guardian or conservator. Conversely, a court order is also required to release money from blocked account. A withdrawal from a blocked account is only granted by a court order. Ordinarily, a petition to release money from blocked account is filed once the minor reaches 18-years of age. On occasion, the court may grant a parent, guardian, or custodian of the minor permission to withdraw a specified amount of money from the account if the parent, guardian, or custodian can demonstrate that such a withdrawal is both necessary for and in the best interest of the minor or conserved adult. Read on to learn more about how to release money from a blocked account.
How to Obtain a Court Order to Release Money from Blocked Account
Briefly, before filing your petition to release money from blocked account, collect the following information:
- The name of the minor or conserved adult’s legal name;
- The case number referring to the blocked account order;
- Information about the blocked account including the name and address of the bank branch holding the account, account number, and the current balance; and
- Any previous orders that may have affected the account.
In order to petition for withdrawal of funds, you must file several forms that explain why you are requesting the funds be released. If the request is approved, the court will issue a formal court order to allow the withdrawal and release of money from the blocked account.
A petition and order should be all that is needed to petition the court to release money from a blocked account for a minor who is now 18-years of age. On the other hand, if you are requesting to withdraw funds for a minor (17-years or age or younger), there may be other documents required. In addition, you will need to provide other evidence to show that it is necessary and in the best interest of the minor. Be as detailed as possible when explaining why the funds need to be withdrawn. The court will likely request more information to make sure the withdrawal is in the minor’s best interest. Contact A People’s Choice for more information about the type of information the court may ask for when filing a petition to release money from a blocked account.
Once the documents have been prepared, they will need to be filed with the court and a hearing scheduled. The court will either grant or deny the request to withdraw funds or issue other orders. Keep in mind, if the court grants the request, the minor can ask the custodian to account for assets held in his or her name. Furthermore, the child’s relatives can also ask for an accounting.
You do not need to hire an attorney to file a petition to release money from a blocked account. The process may vary depending upon the circumstances and whether or not the underlying court order was through a guardianship, conservatorship or probate proceeding. At A People’s Choice, we can help you draft all the required documents you need and file them with the court. Contact us today for more information about how to release money from a blocked account.