Joint Investment Account

[Erik Muladore]

My question involves personal finance in the State of: Michigan

Background: My parents began an investment account for me at Merril Lynch, telling me the intent was to afford down-payment on a home when needed. Upon turning 18 I was given no choice but to sign a document allowing my parents to be on the account past me turning 18. In 2008 I was given a credit card to access the money in the account for personal needs. I abused the credit card and my mother called and froze the account.

Fast forward to present day: The account has not been since touched. My family and I are no longer in touch, following multiple physical assaults from my mother, only one of which is documented in a police report. I now have a family of my own, with a 4 month old daughter. I have been renting a house for some time, but now the house is coming up on the market. I would now like to purchase a house on my own, and would like to for the sake of raising my daughter in a stable, constant place. In contact with ML they will not unfreeze unless all 3 of us (mom, dad and myself) sign to unfreeze it...which isn't an option in my life. I would like to begin the legal proceedings to have the account unfrozen. Can someone direct me down the path that is needed to do so?

I can afford legal help, and such, but would like to acquire free or open help before proceeding further.

Thank you for your help in advance.

[Mr. Knowitall]

There's a lot of background here. You've told us nothing about the nature of the original investment account (e.g., was it an UTMA account), you've told us nothing about why you were "given no choice but to sign a document" when you turned 18. At present we don't have any evidence that you have a superior claim on the money over the other joint account holders. If you want to sue your parents to try to prove that the money is yours, you may do so; the amount at issue would dictate whether this is a small claims, district or circuit court matter. Your chance of prevailing depends on information we don't possess.