Child trust funds
A Child Trust Fund is a new savings and investment account for children. Children born on or after 1st September 2002 will receive either a £250 or a £500 voucher to start their account. Children whose accounts are managed by the Official Solicitor will receive £500 (there is more for births between 1 September 2002 and 5 April 2005).
The account belongs to the child and can't be accessed until they turn 18, so that children have some money behind them to start their adult life.
Why is the Official Solicitor involved?
The Official Solicitor manages the accounts of children where there is no one (or no-one appropriate) with Parental Responsibility in England and Wales. The Official Solicitor (Northern Ireland) and the Accountant of Court (Scotland) manages the accounts for looked-after children in Northern Ireland and Scotland.
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