Child Trust Fund court fees waived for parents
Parents or guardians of children who lack mental capacity can ask for court fees to be waived when seeking access to a Child Trust Fund, the government has announced.
There have been concerns from parents and campaigners that the system can be stressful and costly for families.
A Child Trust Fund (also known as a CTF) is long-term, tax-free savings account, specifically for children. The money belongs to the young person and they can only take it out when they turn 18.
If a young person lacks mental capacity and as a result cannot handle their finances, a parent or guardian must apply to the Court of Protection to allow them to manage these funds. This vital safeguard exists to protect vulnerable people from fraud or abuse.
Professor Baroness Finlay of Llandaff, the Chair of the National Mental Capacity Forum, said:
The Mental Capacity Act offers important protections for vulnerable people who cannot make decisions for themselves. We need to balance the needs of families with children with a learning disability with ensuring appropriate safeguards are in place. Improving guidance and removing the need to pay fees are welcome steps to providing that balance.
You can read the in-depth announcement on the GOV.UK website at this link.