If your child lacks the mental capacity to manage their financial affairs or make decisions for themself, someone will need to make decisions on their behalf. Many children born between September 2002 and January 2011 have child trust funds that can be accessed when the child reaches the age of 18. However, those who lack capacity may need a deputy to manage their financial decisions on their behalf. 

Pryers has a wealth of experience in helping family members to apply for financial deputyship orders when children and young people lack mental capacity, and in acting in the capacity of a professional deputy. We can offer advice on the deputyship application process, and work as professional deputies on your behalf from your child's 18th birthday onwards.

It is vital to work with experienced Court of Protection solicitors when dealing with child trust funds, applications for deputyship orders and vulnerable people who lack capacity. The Pryers team specialises in this area of the law and offers a dedicated Court of Protection service that puts the protected party's interests at the heart of every decision.

Contact us using the links below to find out how we can help with a child trust fund deputyship.

A child trust fund is a long-term and tax-free savings account for children who were born between September 2002 and January 2011. They were introduced by the government to encourage parents to save for their children’s futures. The government gave an initial deposit of £250 to £500 per child and then parents or other family members could pay into the account.

The child who owns the account can’t access the money until they are 18. However, if your child lacks the capacity to manage their account when they turn 18, then the Court of Protection will appoint a financial deputy to access and manage the money for them. You can apply for a child trust fund deputyship order for yourself, or allow the court to appoint a professional deputy to manage the property and financial affairs of a young person who lacks mental capacity.

A child trust deputy is a financial deputy who is appointed by the Court of Protection to administer the property and finances of someone who doesn’t have the mental capacity to do it for themselves. The deputy can be a professional like a solicitor, a family member or a friend. A deputy is legally allowed to make decisions on behalf of that person on things like how to spend their money and the payment of their bills. You can learn more about the role of a deputy on our professional deputyship page.

The deputy must prepare annual reports to outline the financial decisions they have made and justify any expenses. Managing finances on behalf of someone else can be an administrative burden, whether the child's account holds more than a few thousand pounds or less than one hundred. As such, it can be beneficial to appoint a trusted professional deputy to this position and rely on them to meet the legal requirements of the role.

To apply to be a property and financial affairs deputy for a child’s account, you will need to tell the child what you are going to do, why you are doing it, why you don’t think they’re able to do it themselves and what the role of the deputy is. You will need to complete an online application and give a document to the person who will be the subject of the deputyship for, so that they can object to the application if they want to.

Other steps that will be involved are:

• Having a professional, such as a doctor or social worker, carry out a mental capacity assessment.
• Filling out a deputy declaration form.
• Detailing the person’s financial situation, including not only the contents of the child trust fund but detailed information about any monthly income, necessary regular outgoings and other bank accounts.

You will also need to make three other people aware of the application to the Court of Protection, and they must know the person you are applying for. They also need to be given the document that sets out why you are applying for a deputyship and the one that allows them to make any objections.

A Court of Protection solicitor like Pryers can help you with all stages of the application process. We’ve supported many families to get a financial deputyship for a vulnerable minor who is about to turn 18. Our solicitors will guide you through filling in the forms, ensure you follow the correct process throughout and help you submit them to the court. We can also recommend experts who can help with capacity assessments and understanding the child’s needs so you can put the best application forward.

Once the Court of Protection grants the deputyship, we can guide you through the process of reporting and justifying expenses, so you know there is nothing to worry about when you submit the annual report.

If you’ve invested in a Child Trust Fund and you can’t access it due to your child’s capacity we’re here to help. The money in the account is for the benefit of your child and you are entitled to access and manage it on their behalf. We’ve given legal support for many deputyship requests for children who are about to turn 18 t and helped their families to support them financially in the next stage of their life and we’re able to help you manage your child's financial affairs.

Our solicitors understand the emotional toll caring for someone else’s finances takes, and the number of responsibilities already on your shoulders as you help them navigate the next chapter of adulthood. We’re here to listen and understand your situation and get to know your loved one so we can make sure they’re financially supported to enjoy their life without worry. We’ll work with you to make the best decisions for them and their care to let them enjoy an unrestricted life. 

Our office is located in York , but we are a nationwide service and can help wherever you are. We’ll work in a way that’s best for you, so if you prefer, we can meet face-to-face, on video calls such as Teams, Zoom, FaceTime or by phone.

Get in touch with us today at help@pryers.co.uk or call us on 01904 409 720 .