Guidance

Making finance decisions for young people: parent and carer toolkit

This toolkit provides a guide for parents and carers to make financial decisions for a young person who lacks mental capacity.

• From: Ministry of Justice
• Published: 9 June 2023
• Last updated: 6 July 2023 — See all updates

Applies to England and Wales

Documents

Making financial decisions for young people who lack capacity: A toolkit for parents and carers

HTML

Making financial decisions for young people who lack capacity: A toolkit for parents and carers

PDF, 1.98 MB, 26 pages

Making decisions about the money of young people who lack capacity: A toolkit for parents and carers (easy read version)

PDF, 3.69 MB, 40 pages

Gwneud penderfyniadau ariannol dros bobl ifanc nad oes ganddynt alluedd: Pecyn cymorth i rieni a gofalwyr

PDF, 353 KB, 28 pages

Details

By the end of this toolkit, you should be able to understand:

• what lacking mental capacity means and the decision-making principles
• the changes to decision-making responsibility when a child reaches adulthood
• the relevant route for you to make financial decisions on behalf of a young person, including how to access a Child Trust Fund
• if the young person is under the age of 18, how to prepare to make financial decisions when they reach adulthood

Published 9 June 2023
Last updated 6 July 2023 + show all updates

1. 6 July 2023

   Easy read version published.

2. 21 June 2023

   Welsh language version published.

3. 9 June 2023

   First published.