Capacity, financial decision-making and young people: new toolkit

A toolkit has been published today (9 June 2023) by the Ministry of Justice as part of a commitment to increase public awareness of the MCA 2005, especially in the context of the transition from childhood to adulthood.  The toolkit covers:

  • 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 a parent or carer 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

Very helpfully, for my part, the toolkit emphasises the potential for supporting those rising 18 to grant Lasting Powers of Attorney even where they may not have capacity to make all the decisions that the power may cover.   In this regard, many may well want to make use of the work published by the Mencap Trust to help supporters navigate the process of completing LPAs.

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