Access to CTFs may be granted without England and Wales CoP order

Released 18 November 2021

The Government is proposing a simplified procedure to allow families in England and Wales to get access to small sums in accounts belonging to a young person who lacks mental capacity, without having to apply for a court order, according to a report from STEP.

The new streamlined process would allow withdrawals and payments of up to £2,500 from cash-based accounts, such as a child trust fund (CTF) or a Junior ISA, without needing the CoP's permission.

For further details, see https://www.step.org/industry-news/access-child-trust-funds-may-be-granted-without-england-and-wales-cop-order.

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