Question to an expert
I am divorcing the father of my children, what impact will this have on the management of their savings?
Divorce does not call into question the rules for managing the property of a minor child. Divorced or separated parents therefore continue to jointly exercise legal administration in the interest of their child.
Each of them is even deemed, with regard to the bank, to have received from the other the power to carry out administrative acts alone. An act of administration is an act of exploitation or development of the minor’s assets devoid of abnormal risk.
A parent can thus, alone, request the opening of a first booklet in the child’s name and the issuance of a bank withdrawal card. He can also deposit funds into this booklet and even withdraw money.
The bank is not responsible for the use made by this parent of the funds which accrue to the minor.
Deeds of disposition
As a preventive measure, the other parent may, however, notify the bank that he or she is opposed to carrying out these administrative acts alone. The rule, for children’s booklets, will then be that of co-decision.
Parents must also collaborate for so-called “disposition” acts, that is to say acts involving the minor’s assets (except those requiring judicial authorization – article 387-1 of the civil code – or which are forbidden to them – article 387-2).
They must therefore jointly request the modification of a booklet (a transfer of Livret A, for example), the opening of a second booklet, the closure of a bank account, the issuance of a credit card, etc.