Junior ISA for child with ASD

[TheBigBallOfOil]

hi
Looking to save for future for two DC, one of whom has high functioning ASD. He is a bright kid, especially competent with numbers, but socially naive and vulnerable to exploitation, I think, in later life. I know a junior ISA becomes a full adult ISA once they are 18, and I assume at that point I’d relinquish all control, which worries me. But I’d like to be able to save for his future in his name. I have other assets which I would in theory look to place in trust for his benefit at a later stage, to try and ensure they don’t get spent on me and dh in our dotage. Any thoughts welcome.

Competent with numbers. Teach them about financial management. The more interest they have in financial planning the more likely they are to not blow the JISA money when they get it. However having some things in Trust rather than left to them directly is a good idea and would apply equally to a child without additional needs.

Agree with Nannynick, get him involved in choosing funds, looking up fees etc when a teenager, the more involvement he has, the less likely he is to blow it.

Plus if it is in a Stocks and Shares ISA via an online platform, it is not quite as easy to liquidate as if it’s in a cash ISA with a bank book! Plus a platform allows you to see ongoing growth, and that in itself can be an incentive to keep long term. Maybe look up house prices with them in tandem with that, to show how far it would go towards a deposit.

My DC - 19 and 21 - got an inheritance at 18, which is being drip fed monthly into ISAs, with remainder put in 1 or 2 yr bonds until it is needed.

Youngest is not that bothered with investments yet, she lets me manage them still, but she is also not interested in blowing it.

Eldest has got interested in the investments and is now starting to put some of his money directly into shares, rather than his ISA funds, and enjoying doing the share research.

I truly believe that involvement is the key, and discussion on how much they will need for a house.