Privett v. Clendenin

OPINION OF THE COURT

JOHNSTONE, Justice.

Dr. George W. Privett, Jr., and Holly Clendenin were married for almost thirteen years and were blessed with two children. While still married, Privett and Clendenin established two accounts under the Kentucky Uniform Transfers to Minors Act (UTMA) for the benefit of their children. Clendenin was named custodian of the accounts. After their marriage was dissolved, Privett petitioned the Jessamine Circuit Court for relief against Clendenin under the UTMA. The trial court ruled in Privett’s favor. The Court of Appeals reversed on grounds that the Jessamine…