Special Educational Needs: Child Trust Fund and Individual Savings Accounts
The question
To ask the Chancellor of the Exchequer, whether her Department has plans to change the access to (a) Junior ISAs and (b) Child Trust Funds for parents of SEND young adults.
Answered by Emma Reynolds
Access to Junior ISAs (JISA) and Child Trust Funds (CTF) for parents of young adults with special educational needs and disabilities is already possible in certain circumstances.
Where a young adult lacks mental capacity, including due to a disability, the law requires parents or a guardian to have legal authority to make decisions on their behalf about financial assets or property. This includes in relation to accessing funds held in a CTF or a JISA
The Ministry of Justice has published a toolkit on gov.uk explaining the process for parents and guardians of disabled children to obtain legal authority if no other arrangements are in place. The Ministry of Justice has worked with The Investment and Savings Alliance (TISA) to promote the toolkit with parents and carers, and is working with the Department for Work and Pensions on ways to inform parents and carers about the relevant legal processes as their young person approaches the age of 18.
The Government continues to keep all aspects of savings policy under review.
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