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<p>The government is committed to helping people access the savings and money they
are entitled to, including the money held in Child Trust Funds (CTF) and Junior ISAs
(JISA).</p><p> </p><p>While primary responsibility for communicating with account
holders and their registered contact lies with CTF providers, HMRC works closely with
providers, the wider industry and the Money and Pensions Service to ensure that young
people are aware of, and can access, their CTFs, particularly those opened by HMRC
on their behalf.</p><p> </p><p>The government’s current plans will reunite the vast
majority of CTF accounts with their owners, but there may be some cases where further
action will be required. The government will monitor how many accounts remain open
and judge when it is appropriate to intervene in other ways.</p><p> </p><p>Only parents
or a guardian with parental responsibility can open a JISA for an under 16-year old.
Young adults are likely to be aware of JISAs opened for them.</p><p> </p><p>If the
child lacks the mental capacity to manage their account when they turn 18 then the
parent, or a close friend or relative, needs to apply to the Court of Protection (or
equivalents in Scotland and Northern Ireland) for a financial deputyship order. This
allows them to manage the young person’s adult ISA or matured CTF account or take
out money on their behalf once they turn 18. Responsibility for the process and legislation
relating to mental capacity rests with the Ministry of Justice and devolved administrations.</p>
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