Child Trust Fund Access
Posted:22nd December 2020
A leading North East law firm backs campaign for Child Trust Fund access.
EMG Solicitors, who has offices in Durham and Gosforth, Newcastle, is among the country’s leading Court of Protection (COP) specialists – safeguarding the welfare of children who may be unable to live at home or lack capacity due to a birth or other injury.
It’s backing the #ChildTrustFundAccess campaign, led by Renaissance Legal, to allow vulnerable children to access their money, without the need of an Attorney or Deputy.
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, EMG wanted to help families who are already living with many challenges, who find themselves in this difficult situation. To support the campaign, we have produced a free resource pack “Applying to become deputy” which families can obtain by visiting our Child Trust Funds page . This breaks down the process into simple steps and also provides sample letters and examples of completed forms.
The pack is also useful for any individual wishing to make a lay deputy application to manage the affairs of another, for whatever reason, and provides easy guidance for anyone looking to make their application to the COP – Lay Deputyship Services
Earlier this month the Government issued an update and has agreed to waive the Court of Protection fee in these cases. They also recommended an application be made before 18 for any children lacking capacity to manage their own affairs. However, the campaign is still calling for a change to the system to ensure more children will be able access their funds without incurring large fees.
Jemma Morland, Head of the Court of Protection team at EMG Solicitors said:
“At EMG Solicitors we are passionate about protecting vulnerable clients and we hope our free resource pack will help families who find themselves in that situation access their funds. It gives step by step processes and sample letters which can be used.”