can children in the US legally own anything

[GGT]

Of course they have legal ownership of their own bodies. But they're also under custodial guardianship.

Did you even read the article I linked? Custodial guardianship gives parents the legal right to make decisions for the minor child -- including withholding medical care (for religious reasons) or routine vaccinations -- even when that can put the child in danger.

If a kid is being starved or neglected, a state agency like CPS or Health Dept. can legally intervene, assign another custodian, or put them in foster care. But a little kid whose parents think faith healing OR new-age homeopathy can replace modern medicine isn't likely to get a lawyer, to challenge their parents in court, in order to get chemotherapy for cancer, let alone routine childhood vaccinations against measles or whooping cough.

Our legal systems are designed to be used by adults, including Juvenile or Family courts that 'represent' a child's interests. Minors only have proxy-power, so it's a stretch to say kids have legal ownership of anything....even their own bodies. Yeah, that's me being more pedantic than you, Fuzzy!

I think that practically most minors in the US have little in the way of substantial property that is solely owned by them. For example, most bank accounts have a co-owner (normally a parent), any property/equities they have received in inheritances tend to be explicitly tied up in trusts with custodians and guardians until at least maturity, etc. Thus, the question for most intents and purposes is largely moot.

I can think of two classes of property many kids might have. The first is financial assets that are solely in their name. Parents can't get to that money or influence how kids use it. It's not super common, but I think it's at least theoretically possible.

You're contradicting yourself. NO minor can hold financial assets or property solely in their name. Even child actors, singers/musicians, and 12-year old computer app/game designers need to have an adult co-signor/guarantor. That's standard contract law.

"Gifts" given to minor children aren't automatically considered their "own" property, either. That largely depends on the type of gift, its monetary value, and its ultimate purpose. If Uncle Sal buys a collectible car, and gives it to little Jimmy when he's 10 years old....maybe it's not meant to be stored in a garage until he's old enough to drive it himself, but sold for a profit, to pay for his college costs. Either way, little Jimmy isn't the legal owner at age ten. He depends on adults making the right/best choices on his behalf.

If Jimmy's parents see the value of the car, and sell it at auction.....what matters is how they use the proceeds. If they put it into little Jimmy's "education account" it's been used according to Uncle Sal's wishes. If they use the money to take a vacation, or pay off their own credit card debt, they're not using the money as intended....

But if they use the proceeds to pay for their own education, to get a better job, and more family income, and the ability to pay for little Jimmy's education....who's to say Uncle Sal's wishes weren't ultimately met?

<Now we're getting into tax codes and tax deductions based on intent>

I was just thinking about that distinction Lolli, wrt high-ticket items e.g. teens and junkers they buy with the proceeds of a part-time job. In some circumstances those cars are in the parents name but in others they're in the minor's name. If so, the parent can't sell it but they can still prevent them from using it. They're not exerting ownership of the property but they are exerting regulatory control over the custodial minor's behavior. Not the same thing.

What minor can buy a junker car without an adult's signature? Even if they pay with cash, most states will require an auto insurance policy to get license plates/tags. And what insurance company doesn't require a co-signor for minors?