Millions of children received Child Trust Funds, and disabled children often received extra. At 18 the money becomes theirs. But if your child can't manage money, the account can effectively be locked.
The problem
Providers can only release the money to your child, someone they appointed under a lasting power of attorney, or a deputy appointed by the Court of Protection. If your child lacks capacity to manage the money or to make an LPA, the usual answer is a property and affairs deputyship.
What the application involves
- Forms describing your child's finances and who you are.
- A capacity assessment, often completed by a GP or other professional.
- Telling your child and certain family members about the application.
- A court fee, unless a reduction or exemption applies.
You can apply before your child turns 18. Many families combine it with a wider deputyship so they can also manage other money and deal with banks.
After the order
As deputy you must keep the money separate, act in your child's best interests and report to the Office of the Public Guardian. Think about how the money could affect benefits, and whether your own wills need a trust so that future inheritances don't create the same problem.
Use our turning 18 checklist to see everything that needs doing.
Need help with the application? Request a call back.
Frequently asked questions
Why can't I just take the money out as their parent?
At 18 the account legally belongs to your child. Only they, an attorney they appointed, or a deputy appointed by the court can deal with it.
Do I have to pay the court fee?
Fee reductions or exemptions may be available, particularly where the Child Trust Fund is the only significant asset or your child receives certain benefits. Check before you apply.
Will the money affect their benefits?
It might. Savings above certain limits can reduce or stop means-tested benefits. A deputy must manage the money in your child's best interests, so it's worth taking advice on how best to use it.
Request a call back
Tell us a little about your situation and we'll call you, usually within one working day, to understand what you need. If it would help, we'll then put you in touch with a specialist, such as a solicitor who deals with wills and powers of attorney. We'll always tell you who they are before passing on your details. We don't give advice ourselves, and there's no obligation.