The Public Guardian and Trustee (PGT) is authorized to hold funds or property in trust for a child, pursuant to direction in a statute, will, trust agreement or court order. A child may also be entitled to money as compensation for injuries or from monies left to them by a family member. Under these circumstances, property is paid to the PGT in trust for the child where it is invested and administered on the child's behalf.
Within the PGT Child and Youth Services Division, Guardianship and Trust Officers (GTOs) manage trust portfolios on behalf of individual children. 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 GTOs work with the parent and child to ensure the request is in the best interests of the child. Each request is given careful consideration including ensuring that any specific legal requirements are satisfied.
Funds and property are held in trust by the PGT until the person reaches 19, the age of majority in BC, unless a will states otherwise or the court orders that the funds or property be held longer. When the child is nearing 19, the PGT provides release documents to be signed after the child turns 19. Upon receipt of the properly executed release documents, all funds and property held in trust by the PGT are forwarded to the client.
For more information on how the PGT acts as trustee, read our guide entitled Your Child's Trust Fund: FAQ. 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 children working in film, television and television commercials in BC, visit the Employment Standards Branch website. Click here to visit the Frequently Asked Questions page of the Employment Standards Branch website.