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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 · 18/10/2021 18:50

@TRex57128

I have no idea but can you change when it matures, like until he's 21. You could also increase his out goings by making him rent a place so he has less money for weed.
He is an adult He can find the details and access the money himself You cannot change the maturity date Maybe kicking him out He will go live in a squat And start robbing people for weed money
Biglumpycustard · 18/10/2021 18:53

My daughter turned 18 in May, the bank do write to them and he can go to the bank with id himself.

ednakenneth · 18/10/2021 18:54

You will initially be sent an email from the bank you invested the money. This will be sent about month before he reaches 18. I received an email and then a phone call. We booked a meeting with the investment company and they gave us all the options open to us. There were about five options. If you decide to have the full amount you have to have bank account details. They gave both me and my son a couple of weeks to think about the options. Fortunately they will not just give him the money. The meeting was conducted on Microsoft teams.
Give them your bank account details so the money can be given to you.
Try and talk him round to that option . When he is sober!!

beigebrownblue · 18/10/2021 18:54

The correct thing to do is reporting him to the police and getting an incident number.

The weed is coming from somehwhere and you need to get an incident number.

There are kids involved in weed and country lines dealing.

If you don't do this you are complicit.

Stop doing this middle/upper class rubbish as understanding.

If you don't report it you can be charged and end up inside yourself.
Break the chain.

Only way to go.

MarvellousMonsters · 18/10/2021 18:54

@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.

Really? My daughter cashed hers in last month and has added to her Uni funds.
MarvellousMonsters · 18/10/2021 18:54

@BasementIdeas

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
This is what I'd do too
KitchenKrisis · 18/10/2021 18:55

I hope by dc do you spend some on travel and nights out, travel especially.

Your only young once, need to be realistic about what young people want and what they need. I agree however 18 is too far yong to let them have lots. Ideally it should be accessed through out twenties.

beigebrownblue · 18/10/2021 18:55

For the weed. And the weed dealing.
Nothign to do with the child trust fund.

You currently do not appea to know where he is going or what else he is doing.

Could be anything.

Be a grown up and cut it short.
Get an incident number.
Get the police to come round and scare the living daylights out of him.

this may be the only chance he has until his life goes pear shaped.

sbfptw · 18/10/2021 19:08

That's an outrageous suggestion.

linsey2581 · 18/10/2021 19:11

@HeartsAndClubs that’s not true! my son who turned 18 last year for his no problem. My daughter will get hers in February when she turns 18.

GettingItOutThere · 18/10/2021 19:13

you tell him to use it to find somewhere else to live. See how long he manages his money then smoking weed?

HazelandChacha · 18/10/2021 19:13

OP similar situation here.

The Isa account we put DS money in -and have been adding to-wrote to him last week.

I intercepted the letter.

He has ASD/ADHD & started smoking weed, is in college, won’t engage or listen to reason. I’m so scared for his future so will be hiding this account for as long as I can.

He blew the birthday money we had been putting in a bank account for him since he was young. So much money just gone in weeks. Such a waste.

CateJW · 18/10/2021 19:15

@ShoesEverywhere
The parent can still take it out until they are 18 though right? So if my child was the irresponsible with money type at 16, I could move it to a trustfund for when the are older 21 or 25 etc??

(Ours didn't get the government thing, as only 2&4, so just what we have put in since they were born)

DaisyStiener · 18/10/2021 19:16
  • they should make these kids do a drugs test monthly before they’re allowed to access. Way the world is now ….Sad
beigebrownblue · 18/10/2021 19:21

@sbfptw

That's an outrageous suggestion.
Not sure in what sense that is 'outrageous'?

I've seen it done and it works.

About time we parents nipped these things in the bud.

If dealing or smoking weed highly likely he is involved in county lines.

So are you okay as a parent with exploiting other kids?

Or forcing people into slavery?

Weed dealing and intake is not harmless it hurts people.

If you don't report it, you are engaging in the same criminal activity he is.

And could potentially lose your home..

I wouldn't.

beigebrownblue · 18/10/2021 19:23

[quote CateJW]@ShoesEverywhere
The parent can still take it out until they are 18 though right? So if my child was the irresponsible with money type at 16, I could move it to a trustfund for when the are older 21 or 25 etc??

(Ours didn't get the government thing, as only 2&4, so just what we have put in since they were born)[/quote]
No you can't. Because they are in charge of it when they are sixteen.

PlainOldMe80 · 18/10/2021 19:29

My dd turned 18 not long ago and still goy her money even though we've moved house, we didn't know exactly what account it was in etc. If you look up lost trust fund account or something along those lines you will be able to find information as to how to find the account, that's what we done, can't remember the link though

WTAFhappened123 · 18/10/2021 19:34

If it’s the same government child trust one that we have, we get post addressed to our children. Just intercept the post if your that concerned and hold on to it after you’ve sought help and he’s had treatment for his addiction. Does he have a job, drive etc whilst high?? Confused

TravelLost · 18/10/2021 19:49

@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.

Sounds surprising. My dc just turned 18yo and received a letter at his name telling him about the trust, how much money there was. They transferred everything onto their account with no input from us.

@Comingup, legally I dint think you can anything at all. If he knows about the CTF and asks about it or contact the provider directly, he will get the money.
As another poster said, you could just stop the letter and keep it for yourself. If he doesn’t know about it, he won’t ask. But LEGALLY (and ethically) it’s not ok iyswim.

FlorenceWintle · 18/10/2021 20:08

[quote CateJW]@ShoesEverywhere
The parent can still take it out until they are 18 though right? So if my child was the irresponsible with money type at 16, I could move it to a trustfund for when the are older 21 or 25 etc??

(Ours didn't get the government thing, as only 2&4, so just what we have put in since they were born)[/quote]
No, the parent can’t make withdrawals or change the age it matures. Once the money is in the Child Trust Fund or JISA, it belongs to the child and they get it when they’re 18. That’s it.

Comefromaway · 18/10/2021 20:09

[quote CateJW]@ShoesEverywhere
The parent can still take it out until they are 18 though right? So if my child was the irresponsible with money type at 16, I could move it to a trustfund for when the are older 21 or 25 etc??

(Ours didn't get the government thing, as only 2&4, so just what we have put in since they were born)[/quote]
No, you can move it to another child trust fund provider or a Junior ISA but they still get access at 18.

CateJW · 18/10/2021 20:12

@FlorenceWintle
I can take money out of my childrens once a year with no penalties. I can take out more often, but they lose either some interest or a bonus. They are both tax free child accounts

Cocomarine · 18/10/2021 20:14

@CateJW they are not CTFs or JISAs.

CateJW · 18/10/2021 20:23

@Cocomarine this thread is making me think I made a good choice there then!!

RogerBroadie · 18/10/2021 20:33

The only thing you can do is to persuade him to transfer it immediately into an account that needs both your and his signature to move money. You will have to be cunning as to how and when you present this. It may only need one signature from him if you have the right piece of paper ready. Then you will have a 'continuing conversation' about when or if money becomes available. If he knows how much is in there this could be very hard, but if its thousands and he gets it then he could go deeper into drugs very quickly. And then you have to decide whether to cut him off or try to hang in and support - but that's a very hard option unless you are very rich.