When do we begin monitoring the management of a minor’s property?
Due to their age, minors cannot look after their own interests and rights. It is for this reason that the child's guardians act on behalf of their underage child and are required to manage the child's property on the child’s behalf.
When the value of the property belonging to a minor exceeds EUR 20,000 and we are informed of this fact, we will begin monitoring the management of the child’s property. This is our statutory task, and our monitoring is not affected by the form or origin of the property.
We can make an entry in the register to safeguard the interests of a minor, even if the value of their property is less than EUR 20,000.
We guide guardians in their duties and supervise on behalf of the minor that their property is managed according to their best interests. In this way, we can work together with the child’s guardians to ensure that the child’s rights are realised.
If two people have custody of the minor, both of them are guardians regardless of which parent the minor lives with. The parents must jointly take care of their guardianship duties.