DISCUSS: Okay for parent to open bank account for child without consulting spouse?

[Anonymous]

Anonymous wrote:The problem is most replies here are based on the poster’s OWN marriage. So if a wife hates her husband they’ll respond as if the situation occurred in their marriage.

Overall, yes I’d be slightly upset my spouse didn’t talk to me about opening a bank account. That’s not a small matter and it impacts taxes. And for the poster who said “we don’t have time to talk about every little thing in our kid’s lives”. I feel sorry if you think school, money, and extra curricular activities is too much to discuss. Really. My spouse and I discuss it and it takes 10-15 minutes. Not difficult or time consuming.

A regular child's bank account does not impact taxes. At all. A 529? Sure. Some type of custodial brokerage account? Yes. The savings account at the credit union? No.

[Anonymous]

Anonymous wrote:The problem is most replies here are based on the poster’s OWN marriage. So if a wife hates her husband they’ll respond as if the situation occurred in their marriage.

Overall, yes I’d be slightly upset my spouse didn’t talk to me about opening a bank account. That’s not a small matter and it impacts taxes. And for the poster who said “we don’t have time to talk about every little thing in our kid’s lives”. I feel sorry if you think school, money, and extra curricular activities is too much to discuss. Really. My spouse and I discuss it and it takes 10-15 minutes. Not difficult or time consuming.

Yeah. That 3 cents a 7 year old will likely earn in interest over a year will really screw up the tax calculations at the end of the year. all those posters getting pussy about this - is your DH socking away thousands of $ in these “child” accounts or something? Did you confirm it was ok with your spouse to buy a piggy bank when they were little too? Every kid should have a bank account to learn how saving works. Opening it is a simple process. This should not be a big deal unless your spouse actively hides it from you, in which case there is obviously something else going on besides just getting a kid a place to store his/her money from birthday cards and allowances.

[Anonymous]

^^ obviously that was supposed to be “pissy.”

[Anonymous]

Anonymous wrote:If my husband opened a bank account without speaking with me first (even if it’s for our kids) he’d be sleeping on the couch for a month. Parents don’t make those types of decisions without talking about it. For those saying it’s “no big deal” you clearly have bad marriage communication.

All decisions regarding kids should be talked about between both parents.

The person who would force her husband to sleep on the couch for a minor "infraction" is criticizing others' marriages? That's rich.

But, this makes me curious - how would you compel your husband to sleep on the couch? If my husband was so angry with me that he didn't want to sleep in the same bed for an entire month, do you think I should go to the couch? Here's how that conversation would go (no matter who is the aggrieved party):

"I'm so angry with you! You need to sleep on the couch."
"No. I'm sleeping in my bed. You do whatever you want."
"That's not fair! I'm the one who is mad at you! You need to sleep outside our bedroom."
"No."
"Uh . . . . "

So, how does that conversation go in your marriage?

[Anonymous]

Would your spouse ruin your childs credit? Whats tour spouses motives?

[Anonymous]

Of course it's ok.

I think you'd have to be in a terrible marriage or a major control freak (and also probably in a terrible marriage) to think it's not ok.

[Anonymous]

My partner did this, opened accounts for our kids in partner's (not kids') name but they are for the kids. Didn't consult with me. Told me if I wanted to open accounts for them myself and contribute to them I could.

Partner "manages finances"/controls the money. Knows I can't really contribute much to any extra accounts. It's not OK in my situation, but not sure it's really the same scenario.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes of course. If you're married, each parent has 100% rights at all times, not 50/50

That makes no sense. I assume you didn't take math in school? How can each parent have 100%? That equals 200% which doesn't exist. 100% means one parents makes the decisions. 50/50% means both parents make decisions. Just pointing out your math is incorrect.

His math isn’t the issue here. You’re wrong on the law.

[Anonymous]

I’d be very pissed off that it was a bank and not a credit union.

[Anonymous]

I was a little annoyed when FIL opened an account for the kids, but only because it was at a really inconvenient bank.
But if DH opened an account, it would bother me at all - because I trust DH and would know he did it because it happened to be convenient to do it at the time, and it's in the best interests of our family.

If OP doesn't trust her DH, then I can understand how it might make her upset, because it's indicative of other trust issues.