The government has released a guide to making finance decisions for young people.
This toolkit provides a guide for parents and carers to make financial decisions for a young person who lacks mental capacity.
This toolkit will help you 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