Can the child's assets be paid out at any time?
Account closures and withdrawals are permitted at any time if the money is transferred to an account for child assets within the meaning of Art. 321 para. 1 of the Swiss Civil Code (ZGB) that is in the child's name.
It is important to note that funds allocated to children and young people as interest-bearing investments or savings are considered to be the child's assets under Swiss law, and their parents are not permitted to use the income generated by these funds.
Without the consent of the child and adult protection authority (KESB), parents or legal guardians are not permitted to withdraw child assets for current maintenance, upbringing, or education.
More questions in "Child portfolios"
What is the True Wealth portfolio for children?Who can open a child account or a child portfolio with True Wealth?Can other family members such as grandparents or godparents also initiate the opening of a child account?Will my child receive an individual investment strategy?Legal considerations regarding child assets: what should you keep in mind?Is the child’s account protected if their parents file for private bankruptcy?Is the child's account protected from debt collection by the parents' creditors?What is the minimum deposit amount for a child portfolio at True Wealth?What documents do I need to open a child account?What will happen to my child's portfolio when they become an adult?We do not yet have the full minimum deposit of CHF 1'000 for the child portfolio. Can we open an account anyway?Can other family members, friends, or acquaintances pay into the children's account in addition to the parents?How is the child portfolio taxed?Can both parents have access to the child account?Will my child get their own login for the child portfolio?
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