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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10458
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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If a parent wishes to invest funds owned by their child, a

Resolved Question:

If a parent wishes to invest funds owned by their child, a minor of 12years, for the benefit of that child - who needs to be the counter party(s) to the investment agreement ? Is it just the parent, or the parent and child ?
Submitted: 1 year ago.
Category: Law
Expert:  Aston Lawyer replied 1 year ago.

Hi,

Thanks for your enquiry.

Is the proposed investment to comply with a Will Trust or other Trust, or is the parent just wanting to invest the child's own money?

I look forward to hearing from you.

Al

Customer: replied 1 year ago.
The parent just wants to invest the child's own money
Expert:  Aston Lawyer replied 1 year ago.

Thanks for your reply.

The investment would need to be made in the name of the parent- and designate on the application form that you are holding them on behalf of a child (by adding the child’s name or initials to the form).

A lot of Management/Investment Companies have plans specifically for children, so you are best to look into one of these.

I hope this assists and sets out the legal position.

Kind Regards

Al

Aston Lawyer and other Law Specialists are ready to help you
Customer: replied 1 year ago.
Thanks, ***** ***** what I needed to know