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Children may not be able to make good decisions with their money, but many adults aren't either, especially when it is someone else's money (ie, their kids). A
by firebat45 3y ago
Children may not be able to make good decisions with their money, but many adults aren't either, especially when it is someone else's money (ie, their kids).
A child should retain full control of their own money up to a certain value. Above that, they should be assigned a fiduciary to take care of the rest.
- aetherson 3y ago"Assigned a fiduciary" does a lot of work there. Who assigns the fiduciary? How do we find a good one? Why does this fiduciary do this job? God knows that financial professionals are not exactly immune to misconduct. I think we should maybe admit that this is just kind of a difficult space, where there's in some rare cases a lot of money on the line and there's not necessarily anyone who's perfectly suited to handle it.