- Protection of persons of full age
- Tutorship to the property of a minor
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Initial steps in administration of property
Deadlines
Within 60 days of the start of their administration, the tutor has to give the inventory of property:
- to the secretary of the tutorship council;
- to the Curateur public;
- to the tutor to the person, in the case of a dative tutor to the property.
It is also advisable to send a copy of the inventory to the minor aged 14 or over. This will help them to understand the annual reports and the final report they receive.
What is the right way to start administering the property of the child under your protection, whether you are a parent or a dative tutor?
Prepare the inventory of property
Do not skip this step. Not only is it mandatory, it is also essential for the smooth running of your management.
The inventory serves as a baseline for determining the value of the child's patrimony at the beginning of your administration and justifying the final remittance of their property.
The inventory will also make it easier for you to set up an accounting system on which you can base your annual report. In addition, all the interested parties will have the same information at their disposal, which avoids a lot of questions!The inventory may be contested by any interested person, who may ask for a new one to be prepared.
Is some of the property in bad condition? A building, for example? The tutor should attach to the inventory documentation attesting that this is the case.
Content of inventory
You have to compile an inventory for each child whose patrimony exceeds $25,000, if you are the parent. If you are dative tutor, you have to do so, regardless of the value of this property.
The inventory should comprise an accurate list of all the property entrusted to your management (life insurance, indemnities and annuities, donations, including inheritances). You should list all items worth $100 or more as well as debts. This will enable you to determine the assets and liabilities. If the task proves to be complex, we suggest you contact a notary or an accountant.
Inventory by private writing
Are you drawing up the inventory yourself? If so, you should do it in the presence of two witnesses, who must then sign the document. This type of inventory may be appropriate when the patrimony is relatively simple to list (one item of real estate, a few investments, some furniture). You can use the form provided by the Curateur public.
Inventory by private writing
Are you drawing up the inventory yourself? If so, you should do it in the presence of two witnesses, who must then sign the document. This type of inventory may be appropriate when the patrimony is relatively simple to list (one item of real estate, a few investments, some furniture). You can use the form provided by the Curateur public.
The notary's fees are paid directly from the child's patrimony.
Notarized inventory
If the child's patrimony comprises many items of different types (investments at different financial institutions, pieces of real estate, paintings or other artworks, etc.), we suggest using a notary.
Opening an "ès qualités" account
Financial institutions use various terms or even codes for an ès qualités account, e.g. "in trust account", "compte en fidéicommis", "TUT.MI".
One of the first things you should do is open an ès qualités account. This is separate from your personal account and enables you to administer the child's money on their behalf, and among others, deposit their income. In the same way, you must register ès qualités the investments you make from the child's patrimony.
Sources of income
You have to determine the child's sources of income (various indemnities or annuities, investment interest, rental income, etc.).
Collecting income
You have to collect the income and undertake the formalities for obtaining all other government or other benefits and indemnities to which the child is entitled as a result of their condition (e.g. student, disabled, orphan).
Budget
The accounting file: making your life simpler!
To keep track of your administration, we suggest setting up a simple electronic or manual accounting system, with one section for income and another for expenditures. Recording incoming and outgoing amounts regularly will make it easy for you to fill out the form you receive from the Curateur public.
- You are dative tutor to the property. The inventory you have compiled and the income established will determine the amount available to the dative tutor for taking care of the child. If the parents are still alive, you must also ensure that they fulfil their obligation of support.
- You are a parent. Warning: Never forget that by law, you have an obligation of support to the child, and the everyday expenses of bringing them up must not be paid out of the child's patrimony.
