Belk v Belk

Action for accounting and removal of custodian under N.C.'s Uniform Transfers to Minor's Act (UTMA); award of interest on wrongfully disbursed funds as an item of damages; statutory authority for award of attorney's fees in action for accounting and removal of custodian under UTMA; authority for taking attorney's fees against custodian personally; reasonableness of attorney's fees award; prudent person fiduciary standard applicable to custodians when making investments using UTMA custodial funds; duty of UTMA custodian to keep records of all transactions with respect to custodian property.

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Summary

Action for accounting and removal of custodian under N.C.'s Uniform Transfers to Minor's Act (UTMA); award of interest on wrongfully disbursed funds as an item of damages; statutory authority for award of attorney's fees in action for accounting and removal of custodian under UTMA; authority for taking attorney's fees against custodian personally; reasonableness of attorney's fees award; prudent person fiduciary standard applicable
to custodians when making investments using UTMA custodial funds; duty of UTMA custodian to keep records of all transactions with respect to custodian property.