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Does bankruptcy affect linked kids accounts?

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Can I ask how parent bankruptcy affects children's bank accounts?

When kids accounts are set up parents have to authorise them.  These accounts are linked to the parents' accounts.  So if the parents bank accounts are frozen - does this mean the kids accounts are frozen too?  

If the kids are working/ earning their own money and have savings accounts too - what happens?

How is it best to protect/ ring-fence the kids accounts?


If a kid then turns 18y is there a link/ association with the parent bankrupt?  Or are they treated completely separate?


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it is usual for the account to be held in trust so it can be managed by the adult but doesnt belong to them. When the child reaches a certain age  ( well before they are 18- it could be 11 to 16) they are deemed to be old enough to manage their own account and can insist that they are allowed to do so, even if the parent/trustee doesnt want to hand over the authority. this is because it is their money, not the parents. For that reason the accounts cannot be seized to pay the debts of the parents.


there is no association between any related individuals or people living at the same address.

If the bank tries to freeze someone else's accout because of your debt they wil be in big trouble but it will be the child who has to make the complaint or at least someone on their behalf if they aret old enough. that in itself will cause the bank problems because it adds a layer of costs to any action.

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Thank you.


Are there any good recommendations on teen accounts - especially best interest on a savings account - or are they all as bad as each other at the moment??!!

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