22.06.23
As our Child Trust Fund Access campaign, which we launched in 2016 highlights, more than 80,000 disabled young people with learning disabilities in England and Wales are at risk of losing their own savings due to the complex process required to access their Child Trust Funds. The same issue applies to Junior ISA accounts.
These young people lack the mental capacity to manage their savings when they turn 18, however there isn’t an easy way for parent carers to access the account without applying to the Court of Protection – a process which is complex and lengthy, and one which means parents must become their child’s Deputy.
We were invited by our friends at Contact to speak (alongside the team Foresters) at a Facebook Live event on Monday 19th June.
The Q&A session provided an opportunity for parents and carers to get advice on this issue and ask questions directly to Child Trust Fund experts.
The topics covered in the session included:
- Child Trust Funds and Junior ISAs
- Finding your CTF provider
- The Mental Capacity Act
- Court of Protection processes
- Deputyship vs. lasting power of attorney
- What parent carers can do
Those who missed the live event can watch the recording here:
Leave a Reply
2 Responses to “Child Trust Funds – Facebook Live Q&A with Contact”
Author:
Categories
Developing Vulnerability Series
You mention that firms like One Family might not require deputyship to access a junior isa. My son is not yet 17, would it therefore be wise to transfer the ISA to them before it matures?
Many thanks for your question, Yvonne. We understand that you have been in contact with the team separately on this issue. Many thanks