Child Trust Funds
In September 2020, the first children to become eligible to receive their Child Trust Fund turned 18 years of age. An initiative of the Labour government, Child Trust Funds were launched in 2005 and eligible children received an initial government subscription in the form of a voucher for at least £250.
Sadly, funds will not be released to any child turning 18 years of age who lacks capacity to manage these funds themselves and in those cases, under the current law, funds will only be released to an Attorney or Deputy.
As a specialist Court of Protection firm, we wanted to look for ways we could help families finding themselves in this difficult situation and are supporting the wider #ChildTrustFundAccess campaign led by Renaissance Legal.
To support the campaign we have produced a FREE resource pack “Applying to become Deputy” which you can download below. This breaks down the process into simple steps and also provides sample letters and examples of completed forms.
At EMG Solicitors we are passionate about protecting vulnerable clients and see it only right in all but exceptional cases that the Court oversees that a person’s finances are being looked after in their best interest. The current issues around accessing Child Trust Funds may make it more difficult for these families which is why we offer our resource pack completely free of charge and as a useful guide to help families through the process.
As the situation around accessing Child Trust Funds is rapidly changing, we recommend also contacting your Child Trust Fund Provider as some Providers are offering alternative solutions.