Every year, many grandparents look for effective savings solutions to support their grandchildren in their projects. Among the tools in vogue, the booklet is a particularly advantageous way to raise capital. To help you raise funds for your protégés, here are some insights.
Is it possible to open a bank account for my grandchildren?
Many grandparents want to support their grandchildren in their first adult plans. To finance their studies or the purchase of their first car, they have several effective savings solutions. If you are concerned, you can opt in particular to open a savings account in the name of your dear ones. It is also necessary that your banking institution tolerates it. If so, you should be able to save at your own pace and without real constraints.
Thus, your grandchildren will have a nice sum to unlock on the day of their majority or their emancipation. However, be aware that most banks require you to notify parents, these latter constituents the legal representatives.
Which booklet to open for your grandchildren?
Among the most popular savings solutions, the booklet A constitutes a reliable and accessible tool. Each year, it continues to seduce the French, the latter willingly allowing themselves to be seduced by its net income tax.
To save for your grandchildren, it can be a great ally and is particularly advantageous. In particular, it offers you the possibility of opening an account on behalf of your minor offspring, since birth. Once deposited in this book, the sums become his strict ownership. Thus, they cannot under any circumstances be withdrawn by its legal representatives. In addition, the account holder will only be able to benefit from it when he comes of age, which helps to protect his assets.
Before opening any booklet A, it is important to know that each child can only have” a single savings account. Also, we will take the precaution of warning the parents. Also note that the payments are capped at 22,950 euros.
Note that minors over 12 years old can also benefit from a young booklet. Through this second savings account, you will allow them to manage their pocket money. They can deposit or withdraw money as they wish.
What are the other solutions?
If the A and Young booklets are the favorite savings tools for grandparents, they are not the only ones.
The PEL (Housing Savings Plans) and CEL (Housing Savings Account) can also be opened in the name of your protected minors. If they are less widespread, these tools are nevertheless a good way to optimize loan rights. More specific, they will allow you to support your dear descendants in their real estate projects.
To transmit funds, you can also opt for thelife insurance, provided that the parents are informed. By designating your grandchildren as beneficiaries of your contract, you are guaranteed to pass on to them the capital available on your death. Below a certain amount, this transmission may take place outside the succession. Note that you can completely choose to set a date for making the capital available.
To select the formula best suited to your needs, do not hesitate to make an appointment with your bank advisor.