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The H.U.R.D. Casting Network - Helping yoU Reach Dreams Message Board › IMPORTANT Child Trust Account Law

IMPORTANT Child Trust Account Law

Tara
stlmagnolaz
Bossier City, LA
Post #: 25
Ok, I have been working on this since before the law came into effect
and finally have found a bank and the right terminology for Louisiana.

Effective August 15, 2005 Louisiana established a Child Performer
Trust Account Law...15% of pay must be set aside for your child in a
Blocked Trust Account. If you are familiar with "The Coogan Law" in
Califronia then you know how this works.

Louisiana doesn't recognize the term "Coogan". It is called a UTMA
acount or with AmSouth it is AUTMA...Uniform Transfer To Minor
Account.

Like a savings acount except it is blocked and can't be touched til
your child is 18. If you have recieved a letter or have had money
taken out and don't have an account, eventually it will be sent to
the Treasurer of the State of Louisiana.

There may be other routes you can go...credit unions if you are
aftra/sag etc.

See link below for law...you need acrobat reader

http://www.lafilm.org...­

This is something you should have in place even before you get booked.
If anyone has questions, feel free to email me...
stlmagnolaz@yahoo.com
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