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Original poster

Help! Son must not have access to child trust fund

402 replies

Comingup · 17/10/2021 20:34

My son will be 18 soon and is addicted to weed, he is aggressive and abusive. Can anyone tell me what actually happens when18th birthday comes up? Do they write to the child? Can I stop it from maturing or whatever it does. I am really panicking as I have had a massive altercation with him where he admits spending a fortune every week on weed. I plan to ring the company but after tonight don't think I will sleep at the thought of him having any more money to harm himself with.

OP posts:
Embracelife · 17/10/2021 20:35

You cannot.
It is his money.
If he has mental capacity
He will access the money.

Brollywasntneededafterall · 17/10/2021 20:36

Sadly I doubt you can do anything if it's the government one... Or any tbh...

Embracelife · 17/10/2021 20:38

How much is in thefund?
The basic amount 250
Or tthousands?

Angrynellie · 17/10/2021 20:39

Thé investment firm will write to him. Unfortunately he will be entitled to it, as it’s his money, despite the fact you don’t approve of what he may spend it on.
Does he know about it, or which firm it’s invested with? Hiding the correspondence is all you can do I think.

GiltEdges · 17/10/2021 20:39

@Embracelife

How much is in thefund? The basic amount 250 Or tthousands?
Not actually relevant. Sadly OP, there's nothing you can do, it's his money.
Slayduggee · 17/10/2021 20:39

How much is in there? My DB blew through £1000 in a matter of weeks as he ended up treating his ‘mates’ to all sorts of ‘stuff’

BasementIdeas · 17/10/2021 20:40

Is he aware of the trust fund? To be honest, it’s probably not legal but I would just intercept any letters that came for him

SylvanasWindrunner · 17/10/2021 20:40

Unfortunately I don't think you can do anything, OP. It will be his money. Heartbreaking I know. Does he know about it?

HeartsAndClubs · 17/10/2021 20:41

It may not be an issue anyway. DN turned 18 recently and rang whatever line it is you have to talk to and was told all the funds closed 2 years ago and there is no way of accessing them any more.

I don’t know anyone else who has one, but I do know that he’s been told by the gov team that he won’t be given any money.

AutumnLeafy · 17/10/2021 20:41

You can apply to the court of protection if he has a mental incapacity that means he needs a deputyship. But I think other than that it's his money.

MissMaple82 · 17/10/2021 20:41

Theres absolutely nothing you can do, it is his money, sadly. At 18 you don't have much say or control over them or what they do. I have an 18 year old son who spent a good number of years smoking weed so I know how you feel. One day he just stopped though.

SylvanasWindrunner · 17/10/2021 20:42

There is this:

'If your child lacks the mental capacity to manage their account when it matures
You, or a close friend or relative, need to apply to the Court of Protection (COP) for a financial deputyship order so you can manage your child’s account when they turn 18. Once the account matures, the money can either be taken out or transferred into an ISA.

In Scotland, applications need to be made to the Office of the Public Guardian in Scotland.

In Northern Ireland, applications need to be made to the Office of Care and Protection.'

Perhaps there's an argument that being reliant on drugs makes him lack the mental capacity? But I don't know how you would be able to prove that.

Mumofsend · 17/10/2021 20:42

Nothing you can do unfortunately.

I am planning to keep my DC's secret for as long as possible

Embracelife · 17/10/2021 20:42

Amount may be relevant to op
How many months worth of weed?
As 250 is xxx amount of weed
2500 is a lot more 10 x amount of weed

icanbewhatiwant · 17/10/2021 20:43

I only put my children's trust fund money in the nationwide, so it is only £300 (I've read if invested in shares some have up to £8,000 to come) the bank has written to my son telling him he can draw it out on his 18th birthday next month.

Mumofsend · 17/10/2021 20:43

@SylvanasWindrunner it is a very very high bar to evidence a person hasn't got capacity. Bad choices doesn't mean a lack of capacity

Angrynellie · 17/10/2021 20:44

@HeartsAndClubs

It may not be an issue anyway. DN turned 18 recently and rang whatever line it is you have to talk to and was told all the funds closed 2 years ago and there is no way of accessing them any more.

I don’t know anyone else who has one, but I do know that he’s been told by the gov team that he won’t be given any money.

I’d get a second opinion on that tbh Which firm was was it invested with? Lots of funds have transferred to other providers, but they should still have a value. Even if the fund itself has closed it should still be held as a dormant account, or been transferred to a similar fund.
autumnboys · 17/10/2021 20:44

@HeartsAndClubs

It may not be an issue anyway. DN turned 18 recently and rang whatever line it is you have to talk to and was told all the funds closed 2 years ago and there is no way of accessing them any more.

I don’t know anyone else who has one, but I do know that he’s been told by the gov team that he won’t be given any money.

I think he’s been ill advised there. Could someone have transferred it to another provider? My nearly 18yo has had a statement each year and knows how much is in his etc. We have paid some in, it’s not loads of money, but will help for his first year of Uni.

As PPs have said, nothing you can do to stop him accessing it, I’m afraid.

CiaoForDiNiaoSaur · 17/10/2021 20:44

@HeartsAndClubs

It may not be an issue anyway. DN turned 18 recently and rang whatever line it is you have to talk to and was told all the funds closed 2 years ago and there is no way of accessing them any more.

I don’t know anyone else who has one, but I do know that he’s been told by the gov team that he won’t be given any money.

I'd suggest DN checks again. www.gov.uk/government/news/thousands-of-teenagers-missing-out-on-child-trust-fund-cash
Help! Son must not have access to child trust fund
icanbewhatiwant · 17/10/2021 20:45

@HeartsAndClubs there was a post recently on Facebook about child trust fund. Most have thousands to come or have just received it. So that's not true. Annoyingly ours just went in the Nationwide, so it has only gone up to £300.

BeenHereForAges · 17/10/2021 20:45

This is likely illegal but if I was genuinely concerned my child might harm himself if given access to all his money, I'd intercept his post and keep the account quiet for a couple of years.

Original poster
Comingup · 17/10/2021 20:46

He doesn't know but there is a substantial amount in there. This is just awful then. So even if I tell them the circumstances it will make no difference.

OP posts:
Embracelife · 17/10/2021 20:46

@HeartsAndClubs

It may not be an issue anyway. DN turned 18 recently and rang whatever line it is you have to talk to and was told all the funds closed 2 years ago and there is no way of accessing them any more.

I don’t know anyone else who has one, but I do know that he’s been told by the gov team that he won’t be given any money.

If he was born right time he should have one www.gov.uk/government/news/teenagers-to-get-access-to-child-trust-funds-for-first-time

Unless parents not uk or ????

25yearsnhsworker · 17/10/2021 20:47

@HeartsAndClubs

It may not be an issue anyway. DN turned 18 recently and rang whatever line it is you have to talk to and was told all the funds closed 2 years ago and there is no way of accessing them any more.

I don’t know anyone else who has one, but I do know that he’s been told by the gov team that he won’t be given any money.

Have you got any letters with where the money is. This doesn't seem right. My Dd turned 18 this year and has had hers think it was about 1000. I feel you should look into this further.
Embracelife · 17/10/2021 20:47

@Comingup

He doesn't know but there is a substantial amount in there. This is just awful then. So even if I tell them the circumstances it will make no difference.
He has mental capacity Unless you can prove otherwise