Do I Pay Zakat on Wealth Belonging to my Children?
Not according to the Hanafi school. A child is not liable to pay zakat, even if in possession of wealth above the nisab threshold. For a child who possesses the nisab or more, the first zakat payment will become due twelve lunar months reaching the age of puberty.According to both Imam Shafi' and Imam Malik however, a child who possesses wealth above the nisab value is liable for zakat.