My spouse and I have a joint account with our child's name on it. Is our child allowed to close the account if he is under eighteen years old?
This will depend on the laws of your state. In many states a minor child may be the owner of an account. As such they have rights similar to the other owners and yes, they may withdraw all of the funds and close the account.
However, if this was a Uniform Transfers to Minors Act account (UTMA) than the child is the owner, but only the custodian would have the rights to withdraw funds or change the account until the child reaches the age of majority.
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This will depend on the laws of your state. In many states a minor child may be the owner of an 