Guardianship for a minor
The custodians of a child under the age of 18 will also act as their guardian. They must manage the minor’s property in a planned and systematic manner. A minor’s property can only be used for the minor’s benefit and for the minor’s personal needs, while taking into account that a minor’s parents are responsible for the minor’s maintenance.
If the property owned by the minor exceeds EUR 20,000, the guardianship is recorded in the register of guardianship affairs. In this case, the guardians entered into the register are accountable to the guardianship authority.
Do the following
- As a guardian, you must report the property owned by the minor if the value of the property without deducting any debts exceeds EUR 20,000. The agency may also investigate the need to register the guardianship of a minor by requesting the guardian to provide a property inventory of the minor’s assets and debts. You only need to compile the property inventory once and the inventory will not be returned to you after you have submitted it.
- When the guardianship of the minor has been registered, submit an annual statement and the receipts to the guardianship authority once a year by 31 March of the following year. An accounting period is usually equivalent to one calendar year. An annual statement form and the instructions for completing it are available for the preparation of the statement. An annual statement will be returned to you after the audit.
- Guardianship ends when the minor reaches the age of majority. When your responsibility as a guardian has ended, submit the final statement to the guardianship authority within two months. The content of the final statement is similar to an annual statement, but it covers only the time period that has not yet been accounted for.
- After the guardianship authority has audited the final statement, it will give a copy of the statement and its remarks concerning the statement to the minor who has reached the aged of majority.