|
||||||||||||||||||||||||||||
|
 |
The Public Guardian and Trustee (PGT) is authorized to hold funds in trust for a child. This may be under a will, a trust agreement or a court order. A child may also be entitled to money as compensation for injuries from an insurance policy or from monies left to them by a family member. Money is paid to the PGT in trust for the child where it is invested and administered on the child's behalf. Within the Child and Youth Services Division, Guardianship and Trust Officers manage individual children's trust portfolios. They ensure that funds for the child are received and respond to requests for expenditures from funds held in trust. The PGT may release money to assist with or cover the cost of a child's care, education, rehabilitation or other special opportunities. When funds are required from a trust account, the Guardianship and Trust Officers work with the parent and child to ensure the request is in the best interests of the child. Each request is given careful consideration. Funds are held in trust by the PGT until the person reaches the age of 19, unless the Court orders that the funds be held longer. When the child is nearing the age of 19, the PGT will contact the person and provide release documents to sign after they turn 19. Upon receipt of properly executed release documents, funds and any assets held in trust by the PGT are forwarded to the client.For more information on how the Public Guardian and Trustee acts as trustee of a child's funds, read our guide entitled Your Child's Trust Fund: A Guide To Working With The Public Guardian And Trustee . A companion document, Your Child's Trust Fund: Awards For Children Who Have Been Severely Injured provides additional information for parents. The PGT holds a portion of income earned by some child actors. To find out more about trust funds set up for BC children working in film, television and television commercials, read the Children in Film page of the Ministry of Labour and Citizens' Services, Employment Standards Branch website. Click here for a printable version of the PGT Fact Sheet from the Employment Standards Branch.
|
||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||
