I am going for a mutual consent divorce and we had agreed n lacs in fixed deposit for my daughter. My fathe-in-law demanded the money in cash but we rejected. Initialially i instisted that guardian should be my name to avoid misuse of fund. One guy(her relative) he himself a lawyer said that Since the child is with mother and she is the guardian not you. I agreed that i have no problem in putting her as guardian for deposit but under one condition that deposit should be withdrawn when the child attains major. I have put condition that the money should go to the child for that he said that we can put term and conditions in a irrevokable bond with signatures from both parties. He said he done such kinds of agreements before.
I havent heard of such agreements. can such agreements be made? Will the bank accept these agreements?
