Can parents stop you from buying something with your own work money, and if you do buy it, can they take it. Child is 16 (2024)

FAQs

Can parents stop you from buying something with your own work money, and if you do buy it, can they take it. Child is 16? ›

A: Parents generally have legal authority and control over their minor child's actions, including managing their finances and possessions. They can restrict or take away items purchased with the child's money if they believe it's in the child's best interest or for disciplinary reasons.

If a child bought something with their own money they spent themselves, that is legally theirs and the parents have no right to take them away from them even if the child is under 18. Can my parents take my money? Can your parents take your money when you are 17-years-old? Yes.

Regarding personal belongings like your computer and phone, if these items were purchased by you or given to you as a gift, they are your property. Your parents do not have the right to take these away from you.

As a general rule, the law says that your parents are responsible for managing your money, such as money you inherit. But when it comes to money you earn from a job, you can decide what to do with it: your parents can't force you to save it or spend it in a certain way.

No matter how old you are, your parents will have full access to your funds as long as they are joint owners of your account. They will not need your permission to dip into your account, and while it is hard to imagine your parent taking your hard-earned money, or money set aside for tuition, it happens.

A: Parents generally have legal authority and control over their minor child's actions, including managing their finances and possessions. They can restrict or take away items purchased with the child's money if they believe it's in the child's best interest or for disciplinary reasons.

Is it legal for parents to take away their teenage children's cell phones, laptops, and internet access without their consent or notifying them? Yes.

If she feels that the phone is a distractiuon or is unhealthy for the child's well being, she can take the phone away. This depends on the child's age and the circ*mstances. However, the custodial parent may not limit communication with the non custodial parent if it is mandated in the custody order.

So realistically, if the phone was a gift to you by your parents before you were an adult, since you are now an adult you have a right to privacy in all your affairs, including your mobile phone.

The other option - which can be done separately or along with filing a police report - is to file a lawsuit against them for conversion, which is essentially a civil claim of theft (the taking or using of property by someone who has no legal right to it) seeking return of those funds.

When your parents buy you something is it yours? ›

Gifts are the property of the recipient. A "gift" is anything your parents or a third party gave you, whether for a birthday, holiday, or just to make you happy. If something was intended for you, given to you, and accepted by you, it's a gift, and it's yours, not your parents.

Everyone has the right to financial independence. Financial abuse from a family member, friend, partner or carer can be when someone: takes out money or gets credit in your name without your knowledge or permission. makes you hand over control of your accounts.

Have an Honest Conversation. It's important to have tough conversations with your parents as they age. If the impact of their financial decisions is becoming a problem, sit down with your parents and siblings to discuss your parents' financial situation and how you can help.

Since he is a minor his parents have the authority to take the phone away unfortunately. Since the phone was given to him as a gift, it would be considered his property.

Until you are old enough to have your own account, your Parent is the owner or co-owner of your account. This means they can check your activity and see how you spend your money.

To open a custodial account, a custodian must open the account on the child's behalf with the child's personal information. Any money in this account will belong to the minor but is controlled by the custodian until the minor reaches the age of majority, generally 21 in all states.

Our society, for complex social and political reasons, permits independent decision making for most matters, including health care, at age 18 years. Despite accumulating scientific data indicating caution about this arbitrary age cutoff, we generally uphold 18 as the age of majority, if only for legal reasons.

1) Gifts or cash of up to Rs. 50,000 in a financial year are exempt from tax. However, if you receive gifts higher than this amount, the entire gift becomes taxable. For instance, if you receive Rs.