Zakaat on childrens savings...

[Unregistered]

Assalaam alayk...

My husband and I have been putting aside money in specific bank accounts for our children since they have been born,
intention is that the money belongs to the kids, and if and when the need arises we may then use from their monies for themm...
My question is that seeing that the money belongs to the children and they are not mukalaf. is it waajib to give zakaat on those amounts....

Jazaakallah...

[Mufti Yusuf Moosagie]

Walaikum Salaam Warahmatullahi Wabarakatuhu

The children are minors and are unable to take possession of the savings. As a result of this, they do not have complete ownership of the money. It will therefore be considered as the parent’s money. Hence, there will be Zakaat on the money.

AND ALLAH TA'ALA KNOWS BEST