According to Today’s Wills & Probate – A new guide has been launched to help parents and carers better understand their rights and how to manage the finances of disabled young people should they lose the capacity to make decisions for themselves.
Here’s the excerpt from that survey:
The government published consultation published in February which found many parents were unaware of the steps they have to take to be able to make financial decisions on behalf of their child as they transition into adulthood.
This comes after reports earlier this year suggested as many as 80,000 young people’s assets could be “locked” in their Child Trust Funds due to the “length and expensive” Court of Protection Process, with suggestions that by 2029 there could be up to £210 million out of reach for families.
Indeed, a recent report from BBC Breakfast revealed some children will lose access to Universal Credit and means-tested benefits because they have over £6,000 in a savings account
Read more HERE.