Child Trust Fund
What happens when your child is 18
On your child’s 18th birthday, the Child Trust Fund matures. This means that:
- your child automatically takes over the account
- no more money can be added
Your child can either:
- take out the money
- transfer the money to an adult ISA
The Child Trust Fund will then close.
Until your child withdraws or transfers the money, it stays in an account that no one else has access to.
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.