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Written on 25th July 2023 by Lauren Hall


What are Child Trust Funds?

In 2005, the government introduced Child Trust Funds (a type of tax-free savings account) in which all children born between September 2002 and January 2011 received £500 in government vouchers. Disabled children and those from low-income families received larger amounts.  Although it can be added to, this money was then unable to be withdrawn until the child turned 18. The first children to benefit from this scheme turned 18 in September 2020.

The Junior ISA scheme replaced Child Trust Funds in 2011. However, the same issues prevail …

What if my child lacks capacity to manage their finances when they turn 18?

The government currently requires parents to make an application to the Court of Protection to become deputy for their child. Although the government have now agreed to waive the fee if parents apply before their child turns 18, there are still other fees to pay.

Can I access the funds if I am my child’s appointee?

No. Currently appointees can only manage benefits payments and not savings accounts.

What happens to the funds if my child lacks capacity at 18 and I don’t apply to the Court of Protection?

Until you get authority to manage the funds, it stays in an account that no one else has access to. for families with disabled children estimate 80,683 disabled young people have no access to their savings which total up to £210 million.

Until the law changes, how can Boyes Turner help?

We can help you apply to the Court of Protection to become your child’s deputy and provide full advice and support along the way. We can also provide you with guidance and support in what it means to be a deputy.

At Boyes Turner we have experience in all types of proceedings in the Court of Protection. For further information, please contact the Court of Protection team on 0800 124 4845 or email