The Ministry of Justice has recently published a toolkit to help parents and carers better understand their rights and what they need to do under the Mental Capacity Act to manage the finances of their child – should they lose the capacity to make decisions for themselves.
Funds saved in bank accounts, such as Child Trust Funds and Junior ISAs, can help families provide care for their child or be used to buy specialist equipment to support their needs.
The Mental Capacity Act applies to anyone over 16 years old in England and Wales who lacks the capacity to make some or all of their own decisions. This law is in place to empower and support adults with learning difficulties or severe disabilities to make their own decisions about their property or finances where they can.
The toolkit will ensure parents in this situation understand fully the principles of the Act and the steps they need to take to help them plan better and tackle barriers in accessing these funds.
Councils are encouraged to share this information where appropriate.
you can access the original announcement here: