Money Box Child Trust Funds and the Cost of Insurance
Jul 19, 2025
Discover the hurdles faced by families trying to access Child Trust Funds for disabled young adults, as advocates urge for a smoother process. The podcast also tackles the rising insurance costs, revealing how monthly payment methods can increase expenses by 20-30%. Additionally, it examines the trend of early pension withdrawals at age 55 and its long-term financial impact. With personal stories and expert insights, the discussion emphasizes the importance of informed financial decision-making in today’s changing landscape.
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Struggle vs Ease Accessing Funds
- Finlay's mother Claire fought 57 weeks in court to access his child trust fund due to mental capacity issues.
- Sasha's parents accessed the fund in days using an informal process, highlighting system disparities.
Informal Process Speeds Access
- An informal process lets parents of special needs children prove they manage their child's financial affairs to access funds rapidly.
- This approach uses existing official documents and a common sense verification, bypassing lengthy court procedures.
Get Help Accessing Child Funds
- Parents and carers of young adults with learning disabilities should ask providers about the informal process to access child trust funds.
- Anyone unaware of their child trust funds should visit the Share Foundation website to claim their money.