Noooooooooooooooooooooo!!!
I don’t know where you got the impression I want her parents to have any control or access. I want it so her parents cannot access her money at all while she is still a minor. It’s her money.
You don’t understand how finances work in my household. If it is not locked up tight then people will syphon off the money for “necessities” like vacations. The only person with ANY financial self-control is me.
I got it from here - I guess the “can” is supposed to be “can’t”
ohhhhh
yeah can’t
So are you looking to put the money out of the control of ANYONE (including you) for X number of years? Or do you want it to be solely in your control? The latter is more or less the legal definition of you owning the account. I don’t know if any way to accomplish the former except for a truly illiquid investment.
I assumed when I read that it was a typo and they meant they did not want the parents to have access to it.
I would assume if the money is “owned” by the child but the parents also have control, the parents have a duty to not squander it, are not entitled to withdraw it - even with the excuse it’s for the child’s living expenses?