There has been considerable publicity recently regarding the very real difficulties many families are having in accessing child trust funds, where the child turns 18 but is unable to make decisions for themselves.
Once a child turns 18, legally they become an adult and have the responsibility to make their own decisions. As a consequence, no one else has the right to make decisions for them. This includes parents.
The Office of the Public Guardian has now issued an information pack to help parents and carers make financial decisions for young people. Often the only option is for an application to be made to the Court of Protection for a parent or other family member to be appointed as a deputy so as to manage the young person’s finances on a long-term basis. However, the process of applying for a deputyship can take a long time and involved legal and Court fees.
Colman Coyle has considerable experience in advising in relation to these issues, preparation of powers of attorney and Court of Protection applications. If you would like to discuss the issues raised here, please contact Patrick Green on +44 (0)207 354 3000 or Patrick.green@colmancoyle.com.
