[masraum]

Originally Posted by Gus Berges

My friend's concern is that if the child, a majority of age individual, but mentally immature, gets that kind of money, he would foolishly spend it on items that are of not much value and even potentially harmful (think sportbike, sportscar, lavish gifts, etc.), hence his concern about what would happen if his child were to have immediate access to such funds.

The parent is probably correct, but there's nothing that he can do about it. If the kid gets a job making good money, the kid can spend his earnings on whatever he wants, sport bikes, guns, sports cars, hookers and blow....
It's out of the parents hands.

You two have confirmed my suspicion/original thought: legally it's the child's money and it's the father's fault that his child is this immature as he's the one who raised him. Gotta find an elegant way of letting my bud know that he did not get it "all right" with raising his child. Kid is a good kid (respectful, no drugs, no problems, etc.), but immature/very shielded from reality/somewhat spoiled.

Exactly, and I wouldn't even necessarily lay this at the parents feet as their fault. Sometimes parents can do their best and a good job and the individual is just destined to be a poor decision maker. Or maybe the parents did rear the boy to make poor decisions.