Question 233.— What is the best way in which money can be deposited by a father to the credit of his son, age eleven?

If the father placed it in his own name in trust for the son, would that protect the money from his creditors?

Answer.—It seems clear from section 84 of the Bank Act that a bank may take a deposit for credit of such a lad, notwithstanding his age, and may repay it to him from time to time without the intervention of any guardian, etc. There is a limitation in amount affecting such deposits in the Province of Quebec.

If the money were deposited to the credit of the father in trust for the son, the protection from the father's creditors would depend on whether the money was really the property of the son or not. If it were, the father's creditors could not touch it.