 In case the minor child/ward reaches legal age, and he wants to gain full control of the deposit

the parent/court-appointed guardian must close the In-Trust-For (ITF) Account, and open a new
one with the child/ward as the new signatory. In case of conflict in the control of the ITF Account
between the minor/ward who reaches the legal age and the parent/court-appointed guardian,
the latter’s decision shall prevail.
 The remaining wards under guardianship having reached the age of majority, the Philippine Trust
Company on May 26, 1953, filed a final consolidated statement of account and petition for
discharge containing a detailed statement of cash receipts and disbursement made covering the
period from June 1, 1942, to May 20, 1953, in the case of Henry Stegner; from June 1, 1941 to
May 20, 1953 in the case of Ruth, Catherine and Mildred Stegner… It was, therefore, prayed that
the statement of accounts be approved; that it be authorized to collect the sum of P418.77 as
fees or commission and the amount of P437.31 as attorney's fees; that it be authorized to deliver
the state of the deceased Ruth Stegner to her brother Henry and sisters Catherine and Mildred,
in equal shares; that the residuary estates of the wards be delivered to them; that it be relieved
from further responsibility as such guardian, and that the proceedings be declared closed and
terminated.
 Withdraw and open a new account for the child who reached the age of majority (but the ward
and the minor who reached the age of majority must sign and process the transaction.
o Court Order
o Certificate of Live Birth
 Where a guardian is appointed by the court, only the guardian may manage the ward’s property
under judicial supervision. Hence, only the guardian may maintain deposit accounts. The bank-
depositor relation is created with the guardian, not the ward. And the guardian retains control
over the deposit until the guardianship is terminated by the court.  every withdrawal should be
presented to the guardianship court for the issuance of a proper order. In short, the power of the
guardian to make withdrawals depends upon the tenor of the court authorization.
 Withdrawal of deposits may and must be made only by the depositor himself, or his duly
authorized representative.  If made by the depositor himself, it is a simple procedure of
identifying the depositor through his specimen signature or through some other means.
o The signature of the depositor
o Presentation of the deposit book
 Opening of Deposit Account
o Court-appointed guardian – the account shall be opened as “Account of Estate by : (name
of guardian)

TERMINATION OF GUARDIANSHIP

 ground that the ward has come of age

 the guardian shall be automatically discharged without further order of the court. The guardian's
powers will cease
 Upon termination of guardianship (functus officio), the ward regains all legal and civil rights