Frequently asked questions about guardianship
The questions related to the guardianship of a minor have been divided into different themes.
The property of a minor
When can we extend the accounting period or exempt the guardian from their obligation to prepare an annual statement?
We can exempt the guardian from their obligation to prepare financial statements or extend the accounting period beyond one year. We can do this only if the client's property is small in size or if the client's interests do not require an annual statement. This may be the case, for example, when the client’s property consists mainly of real estate or housing shares that the guardian cannot sell without first obtaining a permit from us.
We can usually exempt the guardian from the annual statement obligation or extend the accounting period only after the return of the first annual statement. The annual statement obligation is usually exempted temporarily.