Is child allowance money paid for by the National Insurance Institute which is invested in a savings fund joint property of the parents – to be divided when they divorce, or is it the minor’s property ?
By: דיאנה שאלתיאל•Published on: 12 May, 2022If the savings fund is managed under the child’s name or the child is listed as a beneficiary on it, then the money belongs to him and is his property. If, however, the money is invested in a savings account in the parents’ name, or in one of their names, then it is joint property that can be divided up upon divorce.