Bewind

Under the law, parents manage their children's assets until their children's eighteenth birthday. If there is a guardian, he or she will manage the minor children's money until they reach the age of eighteen.

The moment a child turns eighteen, he or she may independently dispose of the assets. This also applies to what a child has received from an inheritance or gift. It is not always desirable for young people to be allowed to decide for themselves what to do with their money, including any inheritance. Moreover, even in the case of elderly people, it may be desirable that they are not allowed to dispose of their assets independently, for example because they are gambling addicts or ill. If and insofar as it concerns assets you donate or leave by will, you can protect them with an administrator's order.

You can set up a guardianship by will or gift. There is also protective guardianship, which is instituted by the court. With an administrator, the assets to which the trust relates are managed by an administrator. As a result, the beneficiary can no longer dispose of the assets himself.

In a will you can decide who you want to appoint as administrator. For example, your partner, close family or a professional administrator. If you do not appoint an administrator, the cantonal judge will appoint an administrator. You can also determine up to what age it is desirable for the assets to be managed by the administrator.

When establishing a testamentary trust, it is important to be aware that in principle it can be terminated five years after the death of the person who established the trust. If there are special circumstances, it can be included in the will that the regime continues for life. The will should then include the reasons for this, so that the court can assess whether those reasons would still apply if the child were to appeal to have the regime terminated.

It is also possible to establish a guardianship while the children are still minors. This may be desirable, for example, if you do not want to put the guardian in charge of financial management. You may also not want the other parent (your ex-spouse) to manage the assets inherited from you by your minor child.

For more information on guardianship, please contact us. We will be happy to advise you.