Does your child have a government child trust fund? Would your child be unable to manage this money themselves when they turn 18?

[lailamencap]

If you answered yes to the above, please read the below!

Child Trust Funds were introduced by the government to help people save for their children. The idea was that when children turn 18 they would then have access to this pot of savings. But children who do not have the mental capacity to manage this money were not considered properly. For them this can cause problems such as:

- Having savings in your child’s name can effect their means tested benefits when they move into adulthood

- If a child who turns 18 does not have mental capacity to manage this money then their families and carers will need to apply to the Court of Protection to act as the child’s Deputy to be able to access the money in the Child Trust Fund. This involves time and cost.

Renaissance Legal have been campaigning to raise awareness of this issue since 2016. With the first of the children with Child Trust Funds turning 18 on 1 September 2020, the problem is more pressing than ever.

Philip Warford of Renaissance Legal said “My fear is that this is another problem that the families we help are going to have to fight for. We don’t people to find out about this for the first time when their child reaches 18, we want them to understand the issue and plan now. We are concerned that the impact Covid-19 is having on the Court of Protection will cause a ‘perfect storm’ of issues whereby thousands of young adults with disabilities will not be able to access their money going forward.”

You can find our more at renaissancelegal.co.uk/chil... - there is a petition you can sign on that page too.

If you want to talk to me about it, you can reach me at [e-mail] or leave a message on 0207 696 6925.

Do spread the word to friends you might know who are using a Child Trust Fund to save for a child who does not have the capacity to manage the money.

Thanks all,

Laila

Wills & Trusts Service @ Mencap