Law to better protect
Find out more about the changes that will have a direct impact on the lives of thousands of vulnerable people and their loved ones.
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Regardless of the type of security, it generally has to be maintained until the end of the tutor’s administration, unless you, the tutorship council, decide otherwise.
To fufil their obligations, the tutor has to provide security when the property they are administering is valued at over $25,000. The security is a guarantee to protect the minor’s patrimony.
As tutorship council, you have to:
Other provisions apply in the case of the Security Investment, when no tutorship council has been formed.
Important: The hold funds does not constitute a freeze on investments. The tutor may still take the initiative to diversify or modify the minor’s portfolio at their discretion, provided they make presumed sound investments (e.g. converting a savings certificate into bonds), at the financial institution where the funds are deposited.
Various types of security are possible:
Unlike other types of securities, the mortgage and the Security Investment don’t have to be confirmed annually by the tutor.
You may exempt real estate from the security (house, land, cottage, etc.), whatever its value, and also exempt certain other material property (vehicle, valuable furniture, boat, etc.). If you are in any doubt, contact the Curateur public.
Robert Smith died and his son Alex, a minor aged 15, inherited his house, valued at $200,000; as beneficiary of his father’s life insurance, he received $50,000. This amount earns $2,000 in annual interest.
To determine the security, the tutorship council analyzed the situation with Mrs. Smith, taking into account:
After deciding to exempt the house from the security, the council opted for a hold funds on 100% of the funds, excluding interest. The interest will help to pay the tutorship costs.
Next year, it will have to revise the amount because the tutorship costs will be lower; the tutor has to notify the Curateur public accordingly.
You may relieve the tutor of the obligation of maintaining security and inform the Curateur public of your decision. What happens then?
In the case of a dative tutorship, you continue to supervise the administration of property.
In the case of a legal tutorship (exercised by the parents) or a suppletive tutorship, your supervisory role ends. However, the tutorship council continues to exist, because you may still have a role to play (the court may ask for your opinion, the child’s patrimony may increase in value again, etc.).